Domain names are not truly owned -- they're leased out on a first-come, first-served basis, and remain with the initial lessee until either:
- the lessee does not renew the name, or
- a business with a trademark of the same name demonstrates a greater claim to the name than the lessee can demonstrate.
The question is better phrased as 'Who can control the domain name?'. With Register-IT, the answer is the domain's Administrative Contact. This is usually specified by the registrant during the registration process; however, as each Registration Service Provider may have slightly different policies in this matter, please consult individual Registration Service Provider's websites for full details.