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Adverse possession in common law, and the related civil law concept of usucaption (also acquisitive prescription or prescriptive acquisition), are legal mechanisms under which a person who does not have legal title to a piece of property, usually real property, may acquire legal ownership based on continuous possession or occupation without the permission of its legal owner.
Also, if the rental company missed payments to the lienholder, the lienholder could also repossess the vehicle from the person having possession. I purchase a pen at a store. I have all three attributes (possession, right of possession and right of property). If I loan the pen to someone, they have only possession.
The "first possession" theory of property holds that ownership of something is justified simply by someone seizing it before someone else does. [1] This contrasts with the labor theory of property where something may become property only by applying productive labor to it, i.e. by making something out of the materials of nature.
In law, possession is the control a person intentionally exercises toward a thing. Like ownership, the possession of anything is commonly regulated under the property law of a jurisdiction. In all cases, to possess something, a person must have an intention to possess it as well as access to it and control over it.
Usucaption is a method by which ownership of property (i.e. title to the property) can be gained by possession of it beyond the lapse of a certain period of time (acquiescence). While usucaption has been compared with adverse possession, the true effect of usucaption is to remedy defects in title of lands that are without encumbrance on them.
Proof of title or right of possession of the property. Description of the property. Value of the property. Facts constituting the alleged conversion by the defendant. Demand and refusal for a return of the property from the defendant. Damages sustained by the plaintiff.
In property law, the American rule of possession states that a landlord is obligated only to deliver legal possession, but not actual possession, of a leased premises to a tenant. Thus, if a tenant arrives at a leased premises only to discover that it is still inhabited by a previous tenant who is holding over, or by squatters, it is the tenant ...
In common law, possession proceedings are proceedings in a court of law due to a dispute over possession of a physical asset. These are common in divorce issues where the parties cannot decide on which of the two will receive possession of a particular object of value.