Possessory Interest Legal Meaning and Definition

Here is a simplified definition of the legal term Possessory Interest.

Possessory Interest (noun)

A legal term used to describe the rights someone holds over a piece of property. This means they have the right to retain and occupy the property. It could also include rights to control the property under certain circumstances. For example, if a mechanic isn't paid for repair work, they can keep the car as a part of their possessory interest.