- Something that is owned.
- 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.
home buy possession, buyer possession, home buyer occupancy, owning a home, homeownership, taking possession
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,
- A document that transfers a property title.
- To move something.
- 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.