What is the definition of "naked ownership"?

The correct definition of "naked ownership" refers to a situation in which ownership of property is accompanied by a usufruct. In this context, a usufruct is a legal right that gives someone (the usufructuary) the right to use and enjoy the property owned by another (the naked owner). The naked owner retains the title to the property but cannot use or benefit from it while the usufruct is in effect.

The concept of naked ownership illustrates the division of rights in property law, where one person holds the title (the naked owner) while another has the right to use the property (the usufructuary). This arrangement can often be found in estate planning scenarios where an owner wishes to pass on property to heirs while ensuring that someone else can use it during their lifetime.

The other options do not accurately capture the essence of naked ownership. Ownership without the right to use incorrectly simplifies naked ownership by omitting the aspect of usufruct, and ownership that includes full rights to use and transfer describes complete ownership instead. Lastly, possession of property without legal title does not relate to naked ownership, as it implies a lack of recognized ownership rights altogether. Thus, the definition provided in the correct answer accurately captures the legal nuances