Legal Definitions - quasi-possession

Quasi-possession is a type of possession that is not physical. It is also known as incorporeal possession.

• A person who has a right to use a property, such as a leaseholder, has quasi-possession of the property.
• A person who has a patent or trademark has quasi-possession of the intellectual property.

These examples illustrate how a person can have control or ownership over something without physically possessing it.

Quasi-rent is a term used in law and economics to describe the excess value of an asset over its salvage value. In the context of marriage, it refers to the excess value of a marriage over the value of the next best option of not being in that specific marriage.

For example, if a person is in a happy and fulfilling marriage, the value of that marriage to them is greater than the value of being single or in a different marriage. The difference between the value of the marriage and the value of the next best option is the quasi-rent.