[chimeracoder]

> you don't actually own the phone until such a time.

This is simply not true at all, from a legal standpoint.

You're confusing subsidy with ownership - the phone isn't rented; it's yours. You received a discount on the price at the moment of sale because you agreed to a separate (independent) contract which happens to guarantee them more money overall, but that doesn't change the fact that you own the device. If the contract gets broken due to breach of contract, you keep the phone, because it's your property - they don't take ownership of it again.

More importantly, this discussion is all completely irrelevant, because phone unlocking has nothing to do with a subsidy - almost all phones are locked, subsidy or no subsidy.

[sbuk]

Read the contract. If you default on payment, the phone will be taken from you. If, however, you pay for the full cost of the phone off contract, then it is yours.