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Definition 1:
To have (something) as property :to legally possess (something) .
Examples:
We hope to someday own our own home.
She drives a red truck that was originally owned by her grandfather.
He owns the rights to the band’s music.
A publicly/privately owned company
The couple owns and operates the business.
(disapproving) He walks/struts around here like he owns the place. [=like someone who has the right to tell other people what to do]
Definition 2:
To admit that something is true + obj no obj usually + to .
Examples:
After everyone else denied any responsibility, he owned that he was at fault.
He would not own to the mistake. [=he would not admit the mistake]
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