Write briefly about the legal and equitable ownership.
Certain rights which were not recognized by the courts of common law in England were afterwards recognized by the courts of equity; and the distinction between legal and equitable ownership is similar to the distinction between legal and equitable rights. Ownership recognized by the Courts of common law is called legal ownership, whereas ownership recognized by courts of equity is called equitable ownership. One person may be the legal and another, the equitable owner of the same thing or right at the same time. Legal ownership is that which has its origin in the rules of common law, while equitable ownership is that which proceeds from the rules of equity.