Legal Definitions - quasi-possession

Quasi-possession refers to the exercise of rights over an intangible asset or a non-physical thing, much like one would physically possess a tangible object. It describes the factual control, enjoyment, or use of an incorporeal (non-physical) right or benefit as if it were a physical possession.

• Example 1: A Tenant's Exclusive Use of a Designated Parking Spot
  Imagine a tenant in an apartment building whose lease agreement includes the exclusive right to use a specific, numbered parking spot. While the tenant does not own the parking spot itself (it remains part of the landlord's property), they exercise quasi-possession over that particular space. They consistently park their vehicle there, expect others to respect their exclusive right, and enjoy the benefits of having a guaranteed parking location. This demonstrates quasi-possession because they are exercising control and enjoyment over a specific right (the use of the spot) as if they physically owned or possessed that space.

• Example 2: A Utility Company's Easement for Power Lines
  A power company holds an easement that grants it the right to run power lines across private land and access those lines for maintenance and repairs. The company does not own the land itself, but it exercises quasi-possession over the specific right to use that strip of land for its infrastructure and operational activities. By regularly inspecting the lines, trimming trees, and performing necessary repairs, the utility company demonstrates its control and enjoyment of this specific, non-physical right, treating it much like a physical asset it needs to manage.

• Example 3: An Artist's Right to Collect Royalties from Licensed Artwork
  An artist licenses their artwork to a company for use on merchandise, retaining the copyright and the right to receive a percentage of sales as royalties. The artist exercises quasi-possession over this right to collect royalties. They don't physically "hold" the right to future payments, but they actively monitor sales, receive regular royalty statements, and have the ability to enforce their copyright if the terms of the license are violated. This shows quasi-possession because they are controlling and benefiting from an intangible right (the income stream from their intellectual property) as if it were a tangible asset.