What is the main difference between custody and ownership of property?

The distinction between custody and ownership of property is fundamentally centered around legal rights versus physical possession. Ownership is the legal right to possess, use, and dispose of property, meaning that the owner has the title and can exercise complete control over the property. In contrast, custody refers to the physical possession or control of the property, but not necessarily the legal rights associated with it. For example, someone might have custody of a car they are leasing, but the leasing company retains ownership of the vehicle.

This understanding illustrates how custody can exist without ownership. A person may have physical custody of an item temporarily, such as a borrowed book, yet the legal ownership remains with the original owner. Recognizing this distinction is crucial for property accountability and ensures clarity in legal and personal contexts.