Related Words

Possession: (a) having the ball on offense for a number of downs, ultimately resulting in either a score, a turn-over, or the end of the half. (b) physical control of the ball after a pass or fumble.

Alternating Possession Rule: In high school and college basketball , most jump balls have been eliminated in favor of a rule that the teams take turns gaining possession for a throw-in after a held ball and similar stop . . . View Full Definition

Possessions Corporation: A type of corporation permitted under the U.S. tax code whose branch operation in a U.S. possession can obtain tax benefits as though it were operating as a foreign subsidiary.

Unity Of Possession: One of the four unities required to create a joint tenancy. All joint tenants hold an undivided right to possession.

Adverse Possession: The acquiring of title to real property owned by someone else by means of open, notorious, hostile and continuous possession for a statutory period of time. The burden to prove title is on t . . . View Full Definition

Suit For Possession: A court suit initiated by a landlord to evict a tenant from leased premises after the tenant has breached one of the terms of the lease or has held possession of the property after the lease . . . View Full Definition

Time Of Possession: The amount of time one team has the ball in its possession relative to the other team. Since there are 60 minutes in a non-overtime game, and one team or another always has possession of the . . . View Full Definition

Personal Possessions: The personal possessions of a deceased person which pass to the beneficiary or beneficiaries of the residue of estate unless otherwise stated in the will.

Repossession: When the creditor takes back an item that has been purchased, because of nonpayment.

Debtor-In-Possession Financing: A firm that continues to operate under the Chapter 11 bankruptcy process.