What term refers to the legal right to possess and use a certain property?

The term that refers to the legal right to possess and use a certain property is "title." In the context of real estate, title signifies the legal ownership of property and encompasses the rights and privileges associated with that property. When an individual holds title, they have the authority to occupy, sell, or transfer the property, making it the key concept in property law.

Title also implies the absence of encumbrances or disputes regarding ownership. It represents a legal acknowledgment that the person named on the title has rights to the property, reinforcing their claim against others.

In understanding the other terms, "tenancy" refers to the possession of property under a lease agreement, where the tenant does not hold the title but rather the right to use the property for a specific duration. "Land lease" relates to an agreed-upon arrangement where a party rents land from another for a designated period, typically involving specific terms for usage. "Ownership" is a more general term that implies having full rights to a property, but it does not specify the legal claim aspect as title does. Thus, title is the most precise term for the legal right to possess and use property.