A person who holds the legal title of a vehicle or in the event a vehicle is the subject of an agreement for the conditional sale or
lease thereof with a right of purchase upon performance of the conditions stated in the agreement and with an immediate right of possession vested in the conditional vendee or lessee, or in the event a mortgagor of a vehicle is entitled to possession, then such conditional vendee or lessee or mortgagor shall be deemed the owner for the purpose of this Code. Laws 1961, p. 318, § 1-141.