What is a possessory interest?

A possessory interest refers specifically to the right of possession and use of property, which is what makes this answer accurate. This concept encompasses situations where an individual has the legal right to occupy and utilize real estate, regardless of whether they hold full ownership of the underlying title. Possessory interests can come in various forms, such as leases or easements, where the holder has certain rights to use the property but may not actually own it.

In contrast, other options describe different aspects of property rights. The right to develop land pertains to the ability to alter or improve property but does not inherently include the right of possession. Ownership of property rights suggests a broader and more complete form of ownership that may go beyond just possession, while exclusive ownership of real estate implies full title and control, which is also not the focus of possessory interest. These perspectives highlight that possessory interest is fundamentally about the right to occupy and utilize property rather than outright ownership or development rights.