I'm trying to tell the difference between possess and own.
According to the Cambridge and Oxford dictionaries, possess is more formal than own and means to have or own something.
To my mind, although we can use possess with a quality or a feature, when it comes to owning or possessing physical objects, they mean the same thing.
So, am I correct? Are there any objects we own but don't possess?
My dictionary gives several definitions for "possess". One is that it is a synonym of "own". Another is "to have as a quality", like you can "possess great musical talent".
But a third is "to have under one's power or control". For example, suppose that I let my friend borrow my cell phone. I still own it, I didn't give it to him. But he is carrying it around and using it. He "possesses" it.
We rarely use "possess" to mean "own", but that's a valid definition. Like I'm far more likely to say, "I own a car" than "I possess a car." But we do say, for example, "He possesses great wealth." We sometimes say it when we want to emphasize the power or control. Like, "He possessed 100 slaves."
Take a look at the following quote from langeek.co
'Own' is used more commonly with tangible items such as property, vehicles, and businesses, and indicates exclusive legal ownership of such items. 'Possess', on the other hand, is used more commonly with intangible items such as skills, qualities, and attributes.
You can own items, businesses, etc., but you can't own skills. You can only possess skills, however you can use the word possess for ownership of items as well.
Examples:
To specifically answer your question if you are correct or not, you're not completely right, but there are cases where you can use them interchangeably.
Hope this helps!
In English legalese (the version of English which words may have different meanings when used by lawyers), own and possess are two distinct concepts which are only tangentially related. For example, you can own a car. If you use your car (for example drive it), then at that moment it is also in your possession (you are said to also possess the car). But if someone steals your car, then they now possess your car (it is in their possession). But you still own the car, not the thief. Usually, if an object that you own is not in your possession without your own knowledge or consent, then some one has likely stolen that object from you. Neither of these terms are a formal version of another, but separates the concept of "having" an object in theory (own) and "having" an item in fact or practice (possess).
"Own" implies legal ownership. If you "own" something, then it is your property. You can possess something without owning it by stealing it or borrowing it.
"Possess" is a very formal word. You would normally say "have" instead. "Possession" is much more common, and it's easier to see a difference between the "possession" and "ownership".
"Possession is nine-tenths of the law", but it's not legal ownership.
If you own something, you can (legally) sell it. It may be here, it may be somewhere else. You may or may not have use of it at the moment if you're loaned it or rented it to someone else, but it legally belongs to you and you hold power over it.
If you possess something, you can use it. It is probably in your hands or on your person, though it also applies to things like skills and knowledge (since you can use them, but you can't sell them). There are times that we'll talk about possession for things that aren't so close at hand-like the house I possess but do not own.
I am renting my house. I possess the house and am able to make use of it as I wish, but I cannot sell it as I am not the legal owner. My landlord owns the house, but he does not possess it. He's not allowed to come in and sleep here, but he could sell the house to someone else. There are some things that people commonly possess without owning (cars, if they've leased them. Houses, if they're rented. Passports and certain official documents, which are legally owned by the government or issuer but used and possessed by the person they are issued for), and some things that are commonly owned without being possessed (intellectual property, for example).
However, usually, possession implies ownership and ownership implies at least potential possession, so the difference between the two often doesn't matter and they are sometimes used interchangeably. If we're looking to move something and I ask if you own a truck, I don't really care if you properly own the truck or lease it or whatever-I care whether you can bring a truck to help move the stuff. In my experience, "own" tends to be more commonly used, or "have" can be used (somewhat informally) in situations where both are acceptable.
If you're looking for a rule, consider what what's being emphasized. Legal ownership? Use own. On hand, not saleable, or just able to be used? Use possess. Don't care, and are willing to be a touch more informal? Use have, which is acceptable in almost all cases that own or possess would be.
