Possessory Interest
The California State Board of real estate licensing course has defined a "possessory interest" as "a right of possession or exclusive use which is independent, durable, and exclusive of rights held by others in the property." In arrangements of the general nature of the one before us, to which a unit of government is a party, almost inevitably there are some features of relative durability, independence, exclusiveness and fixedness, and others of relative impermanence, subjection to control and public participation.
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