The Concept of Ownership and its Transfer time in the Shiite Jurisprudence, Iranian and English law

Ownership is a permanent right whereby one can allocate to himself some property in compliance with the laws and regulations, and can receive its benefits. This is the most inclusive right that humans can have on some property. It has three distinctive features: exclusivity, absoluteness, and permanency. The transfer of ownership is an important issue as it determines when the effects of the ownership take place. In some legal systems, the transfer of ownership is determined based on the type of transaction. In the Shiite Jurisprudence and the Iranian Law, the transfer of ownership in all types of sales is determined based on the concluding time of the contract. However, based on the type of transaction, this transfer of ownership is different in the English Legal System. It seems that the decision to transfer of the ownership at the time of signing the sales contract, regardless of the type of sale, is more appropriate and is more justifiable theoretically. This is the approach that has been taken in the Shiite Jurisprudence and the Iranian Law.