What does possession mean in real estate home sales?

Possession refers to when the buyer takes physical control of the property. It usually happens at or after closing. However, contracts can detail possession timing separately, such as a 30-day leaseback allowing sellers to stay temporarily. Clear possession terms affect convenience and risk. Buyers should specify possession in days after closing and confirm keys transfer timings. Knowing possession terms avoids unexpected occupancy issues and helps plan your move-in smoothly.