Possessions

Possessions refer to the things that a person or entity owns or has at their disposal. This encompasses a broad range, from tangible physical objects like houses and cars to intangible assets such as intellectual property or financial holdings. The concept centers on the legal right of ownership, control, and the ability to utilize resources, goods, or property. possessions can range from everyday items crucial for survival to luxury goods that reflect wealth and status, also encompassing sentimental items that hold personal significance. The nature of what constitutes a possession is defined by local laws, societal norms, and individual circumstances.

Possessions meaning with examples

• After the fire destroyed their home, the family's remaining possessions were limited to the clothes on their backs and a few cherished photographs. Their insurance would hopefully cover replacing their destroyed possessions, including furniture and important documents. They were devastated by the loss but relieved that their family members had managed to escape unhurt and alive.
• The wealthy art collector's possessions included priceless paintings, sculptures, and rare antique furniture. Each year, they would bring their art to exhibitions and display their vast possessions to other collectors and enthusiasts. The value of their art collection represented a significant portion of their total financial possessions, providing both prestige and investment value.
• During the inventory, the company's possessions were carefully cataloged, from office equipment and computers to company vehicles and office supplies. The auditors needed to determine if the cost and value of the possessions that the company reported matched their records, to ensure they did not have any errors in their reports, for tax purposes.
• When she moved to the new apartment, she had to organize all of her possessions, making difficult decisions about what to keep, donate, and discard. The limited space forced her to be selective, keeping only the essential possessions, and giving away what she felt she no longer needed to other people who would treasure those possessions.