Can Someone Help Me Understand Domain Name Ownership?

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So I bought a domain name last year, but now I’m being prompted to renew it for another £20 or so. Does this mean that I OWN the domain name and can sell it to other people if I wish? Or does this mean I’m renting the domain name, and if I wanted to pass it on to somebody else, I couldn’t sell it?

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"Can Someone Help Me Understand Domain Name Ownership?" was posted on Friday, August 21st, 2009 at 8:46 pm.

3 Responses to “Can Someone Help Me Understand Domain Name Ownership?”

dba(2009-08-21):

A domain name is like renting an apartment.. You are renting the www.{your site name}.com , etc.. for a period of time. You cannot sell it and you loose it if you don’t renew.. You can renew it under the other person’s name if need be.. Depending on the domain holder/owner, you might be able to transfer in the middle of your “rental”.. but it is much better to do it on renewal…
I have developed a number of websites and helped others with theirs and get started.
pawdres2(2009-08-22):

Basically, you are the owner of the domain name, but the renewal fee is like a membership fee. You have to pay the company you bought the name from annually to maintain ownership of the domain. You’ve owned the name since you first bought it, and are able to sell it whenever you like. However, if you do not pay the renewal fee, the domain will actually go back on the market, which will allow anyone in the world the right to purchase it.
yoo s(2009-08-22):

just like the anual fee of your phone,if you do not pay ,it does not work
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