take possession

Also found in: Legal.

take possession (of something)

To gain or assume ownership or custody of something. She took possession of the house following the court's ruling that she was the legal inheritor of the estate. The bank took possession of my car after I was unable to keep up my monthly repayments.
See also: possession, take

take possession (of something)

to assume ownership of something. I am to take possession of the house as soon as we sign the papers.
See also: possession, take

take posˈsession (of something)

(formal) become the owner of something: He couldn’t pay his taxes, so the government took possession of his property.
See also: possession, take
References in periodicals archive ?
The airport commission is slated to take possession of the property June 8 after completion of an eminent-domain proceeding against Lockheed Martin Corp.
In this situation, owners often inquire as to whether they may store the possessions found in the apartment, and take possession of the apartment without resort to any legal action.
Today's investors are being offered several ways to invest in gold including a new breed of securitized products which investors are told, provide all of the security of physical gold without their having to take possession of the metal and deal with storage, insurance and the like.
The Department is authorized by law to take possession, suspend or revoke a license issued under the Money Transmitter law if certain facts or conditions are discovered.
We are very pleased to take possession of this new facility.