Possession (noun)

1. The state of having, owning, or controlling something.
2. An object or thing that someone owns or controls.
3. The act of having control or ownership of something.

Origin:

Middle english: from old french, from latin possessio(n-), from possess- "seized", from the verb possidere.

Examples:

1. He took possession of the house.
2. She was in possession of the stolen goods.
3. He was arrested for possession of drugs.
4. She was charged with possession of stolen property.
5. He gave possession of the keys to the new tenant.