Possession vs. Property

Attribute	Possession	Property
Legal ownership	Not necessarily legally owned	Legally owned
Control	Temporary control	Exclusive control
Transferability	Can be transferred	Can be transferred
Duration	Temporary	Permanent
Responsibility	May not entail full responsibility	Entails full responsibility

Definition

Possession and property are two terms that are often used interchangeably, but they actually have distinct meanings. Possession refers to the physical control or occupancy of an object or space. It is the act of having something in one's control or ownership. Property, on the other hand, refers to the legal right to possess, use, and dispose of something. It is a broader concept that encompasses ownership, possession, and control.

Ownership

One of the key differences between possession and property is the concept of ownership. Possession does not necessarily imply ownership. For example, if you borrow a friend's car, you are in possession of it, but you do not own it. Property, on the other hand, implies ownership. When you own something, you have the legal right to possess, use, and dispose of it as you see fit.

Legal Rights

Another important distinction between possession and property is the legal rights associated with each. Possession is a physical fact – you have something in your control. However, possession does not necessarily confer legal rights. For example, if you find a lost wallet on the street and pick it up, you are in possession of it, but you do not have the legal right to keep it. Property, on the other hand, comes with legal rights. When you own something, you have the legal right to exclude others from using or taking it without your permission.

Transferability

One of the key attributes of property is its transferability. Property rights can be bought, sold, gifted, or inherited. When you own property, you have the legal right to transfer those rights to another person. Possession, on the other hand, is not necessarily transferable. If you possess something, you may not have the legal right to transfer that possession to someone else without the owner's consent.

Duration

Possession is often temporary, while property rights can be permanent. When you possess something, you may only have it for a short period of time. For example, if you rent a house, you are in possession of it for the duration of your lease. Property rights, on the other hand, can last indefinitely. When you own property, you have the legal right to possess, use, and dispose of it for as long as you choose.

Responsibilities

With property ownership comes responsibilities. When you own property, you are responsible for maintaining it, paying taxes on it, and ensuring that it is used in a lawful manner. Possession, on the other hand, may not come with the same level of responsibilities. If you are in possession of something that you do not own, you may not be responsible for its upkeep or legal obligations.

Conclusion

In conclusion, possession and property are two related but distinct concepts. Possession refers to the physical control or occupancy of something, while property refers to the legal right to possess, use, and dispose of something. Property implies ownership and comes with legal rights, responsibilities, and transferability. Possession, on the other hand, may be temporary, does not necessarily confer legal rights, and may not come with the same level of responsibilities as property ownership.