Legal Definitions - possessory

Possessory describes something that relates to or involves the act or right of having physical control over an item or property. It refers to the state of holding, occupying, or having custody of something, often implying a temporary or limited right to do so, distinct from full ownership.

• Example 1: Residential Lease Agreement

  When a tenant signs a lease to rent an apartment, they acquire a possessory interest in that property. This means they have the legal right to occupy and control the apartment for the term of the lease, even though they do not own the property. They can exclude others from the apartment (with certain exceptions for the landlord) and use it as their home.

• Example 2: Borrowing a Library Book

  If you check out a book from a public library, you gain a possessory right to that book for the loan period. You have physical control over the book and the right to use it, read it, and take it home, even though the library retains ownership. Your right is temporary and subject to the library's rules.

• Example 3: Car Rental

  When an individual rents a car for a weekend trip, the rental agreement grants them a possessory right to the vehicle. For the duration of the rental period, they have the exclusive right to drive and control the car, even though the rental company remains the legal owner. This possessory right allows them to use the car for their travel needs.