Definition
The legal sweet spot where you control something physically but don't necessarily own it—a distinction the law takes far too seriously. It's the difference between 'I have it' and 'it's legally mine,' and courts care deeply about which one applies to you.
Example Usage
He had possession of the stolen goods, even though he didn't own them.
Source: Property and criminal law terminology
Related Terms
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See “possession” in Corporate Speak, Gen-Z Slang, Pirate Speak, and more.
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