What term refers to the possession of property where an individual has the right of ownership or control?

The term that refers to the possession of property where an individual has the right of ownership or control is "possession." Possession entails not only the physical control of property but also the legal rights associated with that ownership. In legal terms, possession can indicate a person's claim to property, whether it is personal or real estate, as long as they have the intent to control it and exercise dominion over it.

This concept is crucial in legal contexts, as it establishes an individual’s legitimate interest in the property, which can affect rights in disputes or influences on enforcement actions. For example, when determining ownership during theft or disputes over property rights, "possession" will play a vital role in establishing who has the legal authority to control that property.