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possessory interest

   Also found in: Financial 0.01 sec.

possessory interest n. in real estate, the intent and right of a person to occupy and/or exercise control over a particular plot of land. A possessory interest is distinguished from an interest in the title to property, which may not include the right to immediately occupy the property. Example: a long-term lease. (See: real property, possess, possession)



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Escheat is a process wherein the state takes possessory interest in an owner or apparent owner's property and holds the property into perpetuity on behalf of the owner or apparent owner until it is claimed by the owner or the owner's heirs.
If someone presents information that the applicant doesn't have possessory interest, then that opens up the issue of both ownership and transferability.
Although an individual might have had a temporary possessory interest in a wild animal, that interest was extinguished if the animal escaped from the individual's control and moved to another person's property.
 
 
 
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