Legal Definitions - possessory claim

A possessory interest refers to the legal right to control and use property, even if you are not the outright owner. This right includes the ability to exclude others from using or interfering with the property. It can be a right to immediate possession (a "present" interest) or a right to possess the property at some point in the future (a "future" interest).

Here are some examples to illustrate a possessory interest:

• Renting an Apartment: When you sign a lease and move into an apartment, you gain a possessory interest. You do not own the apartment building, but for the duration of your lease, you have the exclusive right to live in that specific unit, furnish it, and prevent others (including the landlord, with some exceptions) from entering without your permission. This is a present possessory interest because you have immediate control and use of the property.

• Leasing a Commercial Office Space: A business that leases an office suite in a large building holds a possessory interest. The business doesn't own the building, but it has the exclusive right to occupy, operate within, and control access to its leased office space for the term of the lease agreement. This allows the business to conduct its operations without interference, demonstrating a clear present right to use and exclude others from that specific area.

• A Future Right to Occupy a Vacation Home: Imagine a family agreement where a grandparent grants their grandchild the right to exclusively use their vacation cabin for two weeks every summer, starting from the year the grandchild turns 18. Before the grandchild turns 18, they have a future possessory interest. While they cannot use the cabin immediately, they have a legally recognized right to possess and use it for those specific periods once the condition (turning 18) is met, even though they do not own the cabin.