Definition
Possession, in legal terms, is the act of having, holding, or detaining property in one’s control. It encompasses both physical custody and the assertion of a right to exercise dominion over the property. This right differentiates possession from mere custody, which only involves the holding or care of the property without the accompanying right of control.
Examples
- Real Estate: A homeowner has possession of their residential property, including the land and structures upon it.
- Vehicles: A person who owns and drives a car is in possession of that vehicle.
- Personal Belongings: Possession of items like clothing, electronics, or furniture by an individual who has control and ownership of these items.
- Business Equipment: A company possessing computers, machinery, or office furniture acquired and used for business purposes.
Frequently Asked Questions (FAQs)
What is the difference between possession and custody?
Possession involves both custody and the right to exercise control or dominion over the property. Custody only refers to holding or taking care of the property without the associated rights of control.
Can possession be shared?
Yes, possession can be shared. For example, co-owners of a property or business partners may have shared possession of assets.
Is possession the same as ownership?
No, possession is not the same as ownership. While possession indicates control over the property, ownership is a legal right to hold title to the property.
Can someone possess a property without owning it?
Yes, an individual can possess a property without owning it, such as a tenant renting an apartment. The tenant has possession and control but does not own the property.
What constitutes adverse possession?
Adverse possession is a legal principle where a person not holding legal title to a property can claim ownership if they have occupied it continuously and openly for a certain period, meeting specific statutory requirements.
Related Terms
- Ownership: The legal right to possess, use, and dispose of property.
- Custody: The care, supervision, and control over something or someone, typically without ownership.
- Adverse Possession: A legal doctrine that allows a person to claim ownership of land under certain conditions.
- Lease: A contractual agreement where a lessee (tenant) gains possession of a property owned by the lessor (landlord) for a specific period.
- Property Rights: The legal rights to use, control, and transfer property.
Online References
Suggested Books for Further Studies
- Property: Cases and Materials by Jesse Dukeminier and James E. Krier
- Understanding Property Law by John G. Sprankling
- Possession and Ownership: Property Law by Ondrej Bures
- Property Law: Rules, Policies, and Practices by Joseph William Singer
Fundamentals of Possession: Law Basics Quiz
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