legal possessor |
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Definition
Legal entity that has the legal right to possess a property while another entity (the legal owner) retains its title. A mortgagor who occupies the mortgaged property (which he or she pledged as a collateral for a loan) is its legal possessor and retains the right of redemption in the property.
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legal possessor is in the Corporate, Commercial, & General Law subject.
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