Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

possessory interest

Read a random definition: diplomatic relations

A quick definition of possessory interest:

Term: Possessory interest

Definition: Possessory interest means that someone has the right to use or occupy a piece of land or property, but they don't own it. It's like renting a house or apartment. The person with the possessory interest can control the property, but they have to follow certain rules. Sometimes, the government can tax the possessory interest, especially if it's for government property that someone is using.

A more thorough explanation:

Possessory interest

Possessory interest refers to the right of an individual to occupy or possess a piece of property, even though they do not own it. This means that the person has some present right to control the property, such as a lease or rental agreement.

For example, if you rent an apartment, you have a possessory interest in the property. You have the right to live there and use the space, but you do not own the apartment.

Possessory interest can also arise in situations where a person or entity has temporary use of government-owned property. In these cases, the possessory interest may be taxable.

For instance, if a business is granted a possessory interest in a piece of government-owned land to build a parking lot, they may be required to pay taxes on the value of that interest.

Overall, possessory interest refers to the right to possess and control property, even if you do not own it outright.

Possessory estate | Possessory lien

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
LSD+ is ad-free, with DMs, discounts, case briefs & more.