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constructive possession::noun | Spocien Dictionary
| Type | Words |
|---|---|
| Type of | ownership, possession |
Examples of constructive possession
constructive possession
A person has custody if he has actual physical control of the property but the person who has constructive possession has substantially restricted the custodian's right to use the property.
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For instance, the bank must take constructive or actual possession of the good before selling it to the customer.
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Note that this is different from larceny which simply requires that property be taken from the victim's possession, actual or constructive.
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If the bribe is treated as held on a constructive trust then it will remain in the possession of the fiduciary, despite bankruptcy, until such time as the principal recovers it.
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Chose in possession is opposed to chose in action, and denotes not only the right to enjoy or possess a thing, but also the actual or constructive enjoyment of it.
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