Possessory Interest
February 21st, 2008 . by adminA possessory interest in land exists in a person who has a desire to get real estate license (a) a physical relation to the land of a kind which gives a certain degree of physical control over the land, and an intent so to exercise such control as to exclude other members of society in general from any present occupation of the land; or (b) interests in the land which are substantially identical with those arising when the elements stated in Clause (a) exist. "The presence or absence of the privilege of exclusive occupation marks the dividing line between possessory and non-possessory interests."