Pooja Maheshwari, Purnshri Sharma & Ridhi Saxena, B.A. L.L.B. (Hons.), Prestige Institute of Management & Research, Department of Law, Indore (M.P.)
ABSTRACT
The term ‘property’ is commonly employed in several senses. If one glances around in the habitat, each thing accessible may be recognized as property. Each object, whether palpable or impalpable possessing some worth to human beings, can be expressed as Property. The important feature of the property is the worth affixed to it. In common sense, therefore Property comprises land, shares, edifices, and destitute due to another individual. However, when employed in legal perception, the expression has an explicit definition. It’s the right to relish and get completely rid of certain things. Possession and ownership are rudiments of the property of each kind. Possession is a prima facie corroboration of ownership that has a rapport with possession concerning property whether materialistic or other. Previously the known concept in the minds of society restricts possession but due to continuous evolution in the economic and financial anatomy of society, the notion of ownership originates. Ownership emerges from ancient roman law and became a juristic concept. This law designates Possession & ownership as possession and dominium which signifies an ultimate right to anything & bodily control over it respectively. In practicality, most of the legal claims related to property emerge on the issues of possession & ownership. Due to the evolution in this sector, countries incorporate the concept of possession and ownership in their municipal laws that link to property laws. The authors will emphasize the significance and rationale of why possession and ownership should be guarded by law. This paper aims to analyze the abstraction of possession & ownership under the ambit of Jurisprudence and its evolution & inclusion in numerous statutes of India and other countries.
Keywords: Indian Statutes, Jurisprudence, Ownership, Possession.
