Qualified Property

Property not In its nature permanent, but which may sometimes subsist and at other times not subsist. A defeasible and precarious ownership, which lasts as long as the thing is in actual use and occupation; e. g., first, property in animals ferae naturae, or in light, or air, where the qualified property arises from the nature of the thing; second, property in a thing held by any one as a bailee, where the qualified property arises not from the nature of the thing, but from the peculiar circumstances under which it is held.

2 Bl. Comm. 391, 395*; 2 Kent, Comm. 347; 2 Wooddeson, Lect. 385.

Any ownership not absolute.