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In this video, Michael Schuster explains the concept of ownership and how it is verified through receipts and title searches. When purchasing items, receipts serve as proof of ownership, while for real estate, a title search can confirm property ownership through the land registry department. He raises the question of whether someone can steal ownership of property by having the registered title transferred to their name without the owner's knowledge. The surprising answer is yes, similar to how a valuable item could be stolen without detection if the owner is not vigilant.