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.
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n.The right of aperson to retain,occupy and have rightsl over any property is called possessory interest in real estate.They vary in different states and in different circumstances for ex: mechanic can retain the car for unpaid repair bills.
Found on
http://www.encyclo.co.uk/local/21213
In real estate, the right of a person to occupy and/or exercise control over a particular plot of land; distinguished from an ownership interest. For example, a tenant with a long term lease has a possessory interest, but not an ownership interest.
Found on
http://www.nolo.com/dictionary/possessory-interest-term.html
No exact match found.
