Do I own my iBooks?

I have not been able to find an answer to this question as of yet.

Before I accumulate a sizable digital library, I have a great concern. My concern is the issue of bequeathment rights. What happens to my digital possessions when I pass away? Of course, some have stated, "Simply leave your passwords to your heirs." Yet, that is not a total solution. In my physical library, I have a couple thousand volumes, which I can divide among my children, grandchildren, friends, etc. As of now, there is not a way to do that with digital libraries and resources.
With Amazon Kindle, they plainly state that purchasing a book is simply purchasing a license, and you do not own the book. Is iBooks the same way?

With my own physical library (of over 2,000 volumes), the books are mind. I can bequeath them in any manner I deem fit.

Does anyone know how iBooks handles this.

Thanks.