Possession means having physical custody and control of a thing, whether land or chattels. A distinction must be drawn between the mere fact of possession, and the concept of a legal right to possession. It is possible to have one without the other. Generally speaking, the person with the legal right to possession is entitled to possession in fact.
Possession is a distinct real right, separate from ownership. However, possession and ownership are closely linked, in that the owner of a thing is presumed to have the right of possession, unless the owner has given that right to someone else, for example, on loan.
The extent of the possessor's rights depends on the particular circumstances. The most complete right of possession gives the possessor the right to use and enjoy the thing in question. But a possessor cannot consume or destroy the property: they must preserve it and return it in proper condition to the owner at the agreed time. Example: B rents a house from A, the owner, for a term of five years. B pays an agreed rent of $450 a week to A. B lives in the house with his family.
In Thomas v Thomas (1842) 114 ER 330 the executors of Mr Thomas' estate agreed to give the possession and use of Mr Thomas' house to his surviving widow for her lifetime.