noun
possession
puh-ZESH-un/pəˈzeʃn/
The condition of having something under one's ownership or control.
The woman keeps her cherished violin safely in her possession.

Etymology
Latin possidere meant “to have and hold” or “hold in one's control.” The noun names either that state of ownership or, concretely, the thing someone owns.
In context
"Pardon me," he answered quietly, "but I am in the possession of information which enables me to understand exactly what he is.
More examples
- The buyers take possession of the house on Friday.
- Our team keeps possession of the ball.
- The missing keys are now in my possession.
Forms
possession
possess verb — To have something under ownership or control.
possessor noun — A person who owns or controls something.