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Ownership And Possession

What is the difference between ownership and possession?

The difference may be explained as such: something that is possessed might not be owned (e.g. rental property), while something that is owned might not be physically possessed (e.g. one's stolen vehicle).

Further, ownership can be both physical and what is often termed “constructive” ownership.

Constructive ownership means that the consequences of physical ownership risks return to the owner and that the owner be able to sell the item (ie. one would not be permitted to sell a shipped good while it is at sea). A common example of constructive ownership without physical possession is a stock purchased over the Internet.

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