Possession

Definition

  • In real estate, the term refers to the direct occupancy, use, or control of a property after signing all of the papers at closing and receiving the keys to the house.
  • Something that is owned.

Synonyms
buyer possession, taking possession, home buy possession, homeownership, home buyer occupancy, owning a home

Related Terms and Acronyms

  • Adverse Possession Definition,
    • A means of getting title to land by using it without the objection of the title holder.
  • Closing Date (cloda) Abbreviation,
    • The date a buyer takes possession of a property title.
  • Conveyance Definition,
    • To move something.
    • A document that transfers a property title.
  • Early Occupancy Definition,
    • A condition in which the seller allows the buyer to move in before the sale is closed.
  • Eviction Definition,
    • The act of kicking someone out of a property, usually for violating terms of a lease.
  • Transfer of Title (TOT) Acronym,
    • A document signed by the seller and purchaser transferring ownership, at which time the document is registered against the property.
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