Which term describes the right to use a property for living or working?

The term that describes the right to use a property for living or working is possession. This concept signifies that the individual has a legal right to occupy or utilize the property, whether it is for residential purposes or for conducting business activities. Possession implies both physical control of the space and the right established by law to occupy it.

In real estate, possession is an essential component because it establishes who can actually utilize the property as their home or workplace. It distinguishes legitimate use from unauthorized occupancy. Possession can be actual, where someone physically occupies the space, or constructive, where a person has the legal right to occupy the property even if they are not physically present.

Understanding the significance of possession helps clarify property rights and the various ways individuals can interact with real estate.