Reputed owner

In English Practice. A bankrupt trader who has in his apparent possession goods, which he holds with the consent of the true owner, is called the reputed owner. The Bankruptcy Act of I860, sec. 15, § 5, provided that such goods in his possession at the commencement of his bankruptcy pass to his trustee; but things in action, other than debts due to him in the 90urse of his trade or business, are not deemed goods and chattels within the meaning of that clause; Whart. Diet.; 2 Steph. Com. 166. By the English Bankruptcy Act of 1883, the trustee is entitled to such goods as are, at the commencement of the bankruptcy (the date of the earliest act of bankruptcy), in the possession, order, or disposition of the bankrupt, by the consent of the true owner, in such a way that the former is the reputed owner of them; provided they are with the bankrupt in his trade or business. The ownership may be rebutted by showing a custom in the trade to take goods on hire, as in the case of a hotel-keeper having hired furniture; 18 Ch. D. 30; or pianos; 18 id. 601; and perhaps furniture in general; 41 L. J. Q. B. 20: but see, contra, 23 Ch. D. 261. In mechanic’s lien law, where the remedy is usually in rem, liens are filed of record against the “owner or reputed owner.”

He who has the general credit or reputation of being the owner or proprietor of goods is said to be the reputed owner. See Santa Cruz Rock Pav. Co. v. Lyons (Cal.) 48 Pac. 601. This phrase is chiefly used in English bankruptcy practice, where the bankrupt is styled the "reputed owner" of goods lawfully in his possession, though the real owner may be another person. The word "reputed" has a much weaker sense than its derivation would appear to warrant; importing merely a supposition or opinion derived or made up from outward appearances, and often unsupported by fact. The term "reputed owner" is frequently employed in this sense. 2 Steph. Comm. 206.

Defined under Owner in Black's Law Dictionary.