diff --git a/src/rt/core.h b/src/rt/core.h
index d1aaf88..d0d8a1c 100644
--- a/src/rt/core.h
+++ b/src/rt/core.h
@@ -281,14 +281,17 @@ namespace rt::core
     : objects::DynObject(cownPrototypeObject(), objects::cown_region)
     {
       status = Status::Pending;
-      auto region = objects::get_region(obj);
+      auto old = set("value", obj);
+      assert(!old);
+    }
 
-      if (!obj->is_immutable() && !obj->is_cown())
-      {
-        // TODO: Make sure we're parenting the region and add third state, like
-        // pending
-        // Staring in an aquired state will allow the normal usage of `set`
+    [[nodiscard]] DynObject* set(std::string name, DynObject* obj) override
+    {
+      assert_modifiable();
 
+      if (obj && !obj->is_immutable() && !obj->is_cown())
+      {
+        auto region = objects::get_region(obj);
         // Potentiall error message
         std::stringstream ss;
         ss << "Object is neither immutable nor a cown, attempted to threat it "
@@ -307,16 +310,23 @@ namespace rt::core
              << region->parent->bridge;
           ui::error(ss.str(), {this, "", obj});
         }
+
+        region->cown = this;
       }
 
-      auto old = set("value", obj);
-      assert(!old);
+      DynObject* old = fields[name];
+      fields[name] = obj;
 
-      // 1x LRC from the stack
-      if (region->local_reference_count == 1)
+      if (old && !old->is_immutable() && !old->is_cown())
       {
-        status = Status::Released;
+        auto old_reg = objects::get_region(old);
+        assert(old_reg->cown == this);
+        old_reg->cown = nullptr;
       }
+
+      update_status();
+
+      return old;
     }
 
     std::string get_name() override
@@ -346,6 +356,34 @@ namespace rt::core
           return true;
       }
     }
+
+    bool is_released()
+    {
+      return this->status == Status::Released;
+    }
+
+    /// This function updates the status of the cown. It mainly checks if a
+    /// cown in the pending state can be released.
+    void update_status()
+    {
+      if (status != Status::Pending)
+      {
+        return;
+      }
+
+      auto value = this->get("value").value();
+      if (!value || value->is_immutable() || value->is_cown())
+      {
+        status = Status::Released;
+        return;
+      }
+
+      auto region = objects::get_region(value);
+      if (region->combined_lrc() == 0)
+      {
+        status = Status::Released;
+      }
+    }
   };
 
   inline std::set<objects::DynObject*>* globals()
diff --git a/src/rt/core/builtin.cc b/src/rt/core/builtin.cc
index 659da3a..fb28da2 100644
--- a/src/rt/core/builtin.cc
+++ b/src/rt/core/builtin.cc
@@ -334,6 +334,24 @@ namespace rt::core
 
       return std::nullopt;
     });
+
+    add_builtin("is_released", [](auto frame, auto args) {
+      if (args != 1)
+      {
+        ui::error("is_released() expected 1 argument");
+      }
+
+      auto cown = frame->stack_pop("cown to check");
+      auto result = rt::is_cown_released(cown);
+      rt::remove_reference(frame->object(), cown);
+
+      auto result_obj = rt::get_bool(result);
+      // The return will be linked to the frame by the interpreter, but the RC
+      // has to be increased here.
+      result_obj->change_rc(1);
+
+      return result_obj;
+    });
   }
 
   void pragma_builtins()
diff --git a/src/rt/objects/dyn_object.h b/src/rt/objects/dyn_object.h
index 5529eb7..9e4c126 100644
--- a/src/rt/objects/dyn_object.h
+++ b/src/rt/objects/dyn_object.h
@@ -268,7 +268,7 @@ namespace rt::objects
       }
     }
 
-    [[nodiscard]] DynObject* set(std::string name, DynObject* value)
+    [[nodiscard]] virtual DynObject* set(std::string name, DynObject* value)
     {
       assert_modifiable();
       DynObject* old = fields[name];
diff --git a/src/rt/objects/region.h b/src/rt/objects/region.h
index 7ce1ee9..c6f4f82 100644
--- a/src/rt/objects/region.h
+++ b/src/rt/objects/region.h
@@ -6,6 +6,11 @@
 #include <cassert>
 #include <set>
 
+namespace rt
+{
+  void cown_update_state(objects::DynObject* obj);
+}
+
 namespace rt::objects
 {
   class DynObject;
@@ -49,6 +54,11 @@ namespace rt::objects
     // This guarantees that the regions for trees.
     Region* parent{nullptr};
 
+    // This points to the cown that owns this region. The parent will be
+    // filled with the cown_region if this is owned by a cown. This ensures
+    // that the region can't be reparented.
+    DynObject* cown{nullptr};
+
     // The number of direct subregions, whose LRC is non-zero
     size_t sub_region_reference_count{0};
 
@@ -81,9 +91,17 @@ namespace rt::objects
       r->local_reference_count--;
       // Edge triggered LRC for parent.
       if (r->combined_lrc() == 0)
+      {
         dec_sbrc(r);
+        if (r->cown)
+        {
+          cown_update_state(r->cown);
+        }
+      }
       else
+      {
         action(r);
+      }
     }
 
     // Decrements sbrc for ancestors of 'r'
@@ -96,6 +114,12 @@ namespace rt::objects
         if (r->combined_lrc() != 0)
           break;
       }
+
+      if (r->cown)
+      {
+        cown_update_state(r->cown);
+      }
+
       action(r);
     }
 
@@ -149,7 +173,10 @@ namespace rt::objects
         ui::error("Cycle created in region hierarchy", r->bridge);
       }
 
-      p->direct_subregions.insert(r->bridge);
+      if (p)
+      {
+        p->direct_subregions.insert(r->bridge);
+      }
       // Set the parent and increment the parent reference count.
       r->parent = p;
 
diff --git a/src/rt/rt.cc b/src/rt/rt.cc
index be3a10a..46f8b62 100644
--- a/src/rt/rt.cc
+++ b/src/rt/rt.cc
@@ -313,4 +313,23 @@ namespace rt
     objects::dissolve_region(bridge);
   }
 
+  bool is_cown_released(objects::DynObject* cown)
+  {
+    if (cown->get_prototype() != core::cownPrototypeObject())
+    {
+      ui::error("The given object is not a cown", cown);
+    }
+
+    return reinterpret_cast<core::CownObject*>(cown)->is_released();
+  }
+
+  void cown_update_state(objects::DynObject* cown)
+  {
+    if (cown->get_prototype() != core::cownPrototypeObject())
+    {
+      ui::error("The given object is not a cown", cown);
+    }
+
+    reinterpret_cast<core::CownObject*>(cown)->update_status();
+  }
 } // namespace rt
diff --git a/src/rt/rt.h b/src/rt/rt.h
index 281d142..6870c04 100644
--- a/src/rt/rt.h
+++ b/src/rt/rt.h
@@ -64,4 +64,9 @@ namespace rt
   void merge_regions(objects::DynObject* src, objects::DynObject* sink);
   void dissolve_region(objects::DynObject* bridge);
 
+  /// This notifies the given cown that something has changed and the state
+  /// might need to be updated. This can cause a cown in the pending state to be
+  /// released.
+  void cown_update_state(objects::DynObject* cown);
+  bool is_cown_released(objects::DynObject* cown);
 } // namespace rt
diff --git a/tests/cowns/cown_from_cown.frank b/tests/cowns/cown_from_cown.frank
index 75be723..e8ba364 100644
--- a/tests/cowns/cown_from_cown.frank
+++ b/tests/cowns/cown_from_cown.frank
@@ -5,3 +5,8 @@ c01 = Cown(move a)
 
 # Should succeed, cowns can contain other cowns
 c02 = Cown(move c01)
+
+if is_released(c02):
+    pass()
+else:
+    unreachable()
diff --git a/tests/cowns/cown_from_immutable.frank b/tests/cowns/cown_from_immutable.frank
index b0a5934..0cab644 100644
--- a/tests/cowns/cown_from_immutable.frank
+++ b/tests/cowns/cown_from_immutable.frank
@@ -6,3 +6,8 @@ freeze(share)
 
 # Should succeed, as 'share' is now immutable
 c = Cown(share)
+
+if is_released(c):
+    pass()
+else:
+    unreachable()
diff --git a/tests/cowns/cown_release_on_swap1.frank b/tests/cowns/cown_release_on_swap1.frank
new file mode 100644
index 0000000..1bf8236
--- /dev/null
+++ b/tests/cowns/cown_release_on_swap1.frank
@@ -0,0 +1,21 @@
+# Creating an open region
+r1 = Region()
+
+# Creating a cown in the pending state
+c1 = Cown(r1)
+
+# Make sure the cown is still pending
+if is_released(c1) == False:
+    pass()
+else:
+    unreachable()
+
+# Replacing the value with a closed region should release the cown
+r2 = Region()
+c1.value = move r2
+
+# Make sure the cown is released
+if is_released(c1) == True:
+    pass()
+else:
+    unreachable()
diff --git a/tests/cowns/cown_release_on_swap2.frank b/tests/cowns/cown_release_on_swap2.frank
new file mode 100644
index 0000000..185be20
--- /dev/null
+++ b/tests/cowns/cown_release_on_swap2.frank
@@ -0,0 +1,20 @@
+# Creating an open region
+r1 = Region()
+
+# Creating a cown in the pending state
+c1 = Cown(r1)
+
+# Make sure the cown is still pending
+if is_released(c1) == False:
+    pass()
+else:
+    unreachable()
+
+# Replacing the value with a frozen value should release the cown
+c1.value = None
+
+# Make sure the cown is released
+if is_released(c1) == True:
+    pass()
+else:
+    unreachable()
diff --git a/tests/cowns/cown_release_on_swap3.frank b/tests/cowns/cown_release_on_swap3.frank
new file mode 100644
index 0000000..cf54a55
--- /dev/null
+++ b/tests/cowns/cown_release_on_swap3.frank
@@ -0,0 +1,20 @@
+# Creating an open region
+r1 = Region()
+
+# Creating a cown in the pending state
+c1 = Cown(r1)
+
+# Make sure the cown is still pending
+if is_released(c1) == False:
+    pass()
+else:
+    unreachable()
+
+# Replacing the value with a cown should release the cown
+c1.value = Cown(None)
+
+# Make sure the cown is released
+if is_released(c1) == True:
+    pass()
+else:
+    unreachable()
diff --git a/tests/cowns/cown_released_on_close1.frank b/tests/cowns/cown_released_on_close1.frank
new file mode 100644
index 0000000..1143cbf
--- /dev/null
+++ b/tests/cowns/cown_released_on_close1.frank
@@ -0,0 +1,20 @@
+# Creating an open region
+r1 = Region()
+
+# Creating a cown in the pending state
+c1 = Cown(r1)
+
+# Make sure the cown is still pending
+if is_released(c1) == False:
+    pass()
+else:
+    unreachable()
+
+# Force close r1
+close(r1)
+
+# The cown should now be released
+if is_released(c1) == True:
+    pass()
+else:
+    unreachable()
diff --git a/tests/cowns/cown_released_on_close2.frank b/tests/cowns/cown_released_on_close2.frank
new file mode 100644
index 0000000..0e078bc
--- /dev/null
+++ b/tests/cowns/cown_released_on_close2.frank
@@ -0,0 +1,20 @@
+# Creating an open region
+r1 = Region()
+
+# Creating a cown in the pending state
+c1 = Cown(r1)
+
+# Make sure the cown is still pending
+if is_released(c1) == False:
+    pass()
+else:
+    unreachable()
+
+# Manually close r1
+r1 = None
+
+# The cown should now be released
+if is_released(c1) == True:
+    pass()
+else:
+    unreachable()
diff --git a/tests/regressions/cown_none.frank b/tests/regressions/cown_none.frank
new file mode 100644
index 0000000..4b7a0d3
--- /dev/null
+++ b/tests/regressions/cown_none.frank
@@ -0,0 +1 @@
+c1 = Cown(None)
diff --git a/tests/regressions/cown_unknown.frank b/tests/regressions/cown_unknown.frank
new file mode 100644
index 0000000..57a5e3b
--- /dev/null
+++ b/tests/regressions/cown_unknown.frank
@@ -0,0 +1,5 @@
+c1 = Cown(None)
+r1 = Region()
+c2 = Cown(c1)
+
+