possessory interest
Definition from Nolo’s Plain-English Law Dictionary
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.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:21 pm
