it belonged to instapaper. that's what leased means. if you lease a car or house or server or anything else, it belongs to you for the duration of the lease. and more importantly than the hardware, all the information on the server belonged to instapaper.
No it does not. I once lived in a house and the owner went bankrupt, they (the bank) seized the house immediately. How is that even possible if the house was mine that very moment?
I agree that the information belonged to Instapaper.