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Simple English definitions for legal terms

possessory interest

Read a random definition: notice-and-comment rulemaking

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

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TGM
18:41
not sure if I should email them to say that, or just hold off on sending it and not give an excuse
18:41
I think I just wouldn’t reach out and if they ask for them then say that
Dkk
18:41
@tgm Yeah sounds good, say that if they ask
18:47
hey yall
18:47
im premed idk why im here
18:48
we’re like cool and sexy and fun I get it
18:48
true i love ur user
18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
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