Definition - What does Own mean?
To own means to have legal claim to something. This is in reference to any type of property. For example, a person may own a piece of land, a house, a car, a tea set, etc. There are many, many things that an individual can own. A person who owns a piece of property is called an owner.
Justipedia explains Own
The word own basically just means that a legal right to something exists. A man who owns something, for example, a bicycle, can choose what he does with it. He can ride it, he can take parts off of it, or he can even sell it. If he does sell it, then the person who buys it becomes the new owner. Theft is when someone who does not own a piece of property steals it. For example, if someone stole the bike from the owner, then this would be theft.