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Constructive possession [1] is a legal fiction to describe a situation in which an individual has actual control over chattels or real property without actually having physical control of the same assets. At law, a person with constructive possession stands in the same legal position as someone with actual possession.
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 ...
Possession can be obtained by a one-sided act by which factual control is established. This can take the form of apprehension (taking an object not in someone's possession) or seizure (taking an object in someone's possession). It can also be obtained through a two-sided process of handing over the possession from one party to another.
Some security interests can be perfected only by the actual possession of the asset. For example, under a common-law pledge (or pawn), the right to enforce the sale of the asset is contingent upon the possession of that asset: an agreement that leaves the debtor in possession of the pledged collateral does not give rise to an enforceable ...
Possession and possession-based techniques are of little relevance to modern financial markets, but still play a substantial role in commercial and retail lending. [21] Therefore a chose in possession denotes not only the right to enjoy or possess a thing, but also the actual or constructive enjoyment of it. The possession may be absolute or ...
Pedis possessio is a legal phrase in common law used to describe walking on a property to establish ownership; this concept involves the establishment of first possession of land. By walking on a property and defining its bounds, possession is established. Legal dictionaries [2] put forth this definition.
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Eviction normally takes the form of a lawsuit, requiring an initial notice to a tenant, followed by court proceedings in which the tenant may contest the eviction and potentially file a counter-claim.At the conclusion of the eviction process, if the landlord prevails, the court will issue an order that the property be restored to the possession ...
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related to: constructive possession vs actual possession texas form pdf printable