A "Possessory Interest" refers to a person's legal right to occupy or use a property, even if they do not own it. This interest can arise from various arrangements, such as leases or rental agreements, where the individual has the right to possess the property for a specific period. Possessory interests can be classified into different types, including tenancy at will, leasehold estates, and life estates. Each type has distinct rights and responsibilities, affecting how the property can be used and what happens when the agreement ends. Understanding these interests is essential for both property owners and tenants.