Ownership – within the sphere of Property Law, the term refers to a legal right, granted by the local legislation to the possession of a thing, which right can be defended against any third parties. Usually the ownership right includes three different & cumulative rights – the right of usage, the right of management/transfer and the right of possession. In many legal systems the ownership of real estates can be conveyed to others validly only via contract in the form of a Title Deed in the name of the beneficiary. A synonym is “Title”.