I'm trying to tell the difference between **possess** and **own**. 

According to the [Cambridge](https://dictionary.cambridge.org/vi/dictionary/english/possess)  and [Oxford](https://www.oxfordlearnersdictionaries.com/definition/english/possess?q=possess) 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?