C2[U]the fact that you have or own something: The possession of large amounts of money does not ensure happiness.formalI have in my possession a letter which may be of interest to you.formalHe was found in possession of explosives.Having and owning - general wordsB2[Cusually plural]something that you own or that you are carrying with you at a particular time: Please remember to take all your personal possessions with you when you leave the aircraft.Belongings and possessions›[Cusually plural]a country that is ruled by another country: a former overseas possessionColonisation and self-governmentget/take possession of sthlegal›to start to use and control a building or piece of land that you may or may not own: We've already bought the house but we won't take possession of it until May.Having and owning - general words