Law Dictionary

owner

noun own·er

Legal Definition of owner

  1. 1 :  one with an interest in and often dominion over property: as a :  legal owner in this entry b :  one with the right to exclusive use, control, or possession of property c :  a purchaser under a contract for the sale of real property — see also equitable owner in this entry beneficial owner 1 :  one holding a beneficial interest in a trust — compare beneficial interest at interest 1 2 :  one enjoying the benefit of property of which another is the legal owner was the beneficial owner of property held by the parent corporation 3 :  one who has or shares the power to control the voting or investment of stock was considered the beneficial owner of stock held by her minor children equitable owner :  one (as a beneficiary of a trust) who is considered to have rights or obligations of an owner regardless of legal title on the ground of equity do not have legal title but, upon execution of the contract, they became equitable owners and have power to sue to protect their land — Dessen v. Jones, 551 N.E.2d 782 (1990) legal owner :  one who has legal title to property; broadly :  one determined by law to own property naked owner in the civil law of Louisiana :  an owner of property burdened by a usufruct record owner :  one who is the owner of property (as land or stock) according to current appropriate records received a tax bill as record owner of the land —called also owner of record



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