possession

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possession

Exercising dominion or control over property.There are two varieties of real property possession. Actual possession occurs when property is in the immediate physical control and occupancy of a party. Constructive possession exists as to the whole of a property when someone is in actual possession of a part.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.