What is true about the ownership interest if a party has the right of possession?

The correct understanding here focuses on the nature of ownership interest in relation to the right of possession. When a party has the right of possession, it indicates that they have control over the property and can use it. This aligns with owning an estate in land, which grants not just possession but also the associated rights to use, modify, or benefit from the property in question.

An estate in land encompasses various forms of ownership, including freehold estates, where the owner has significant rights and privileges regarding the property over an indefinite duration, and leasehold estates, which are temporary arrangements. While a leasehold estate also involves possession, it is specifically tied to tenancy agreements.

The other options highlight different aspects of property interest but do not align with the idea of possessing ownership. Non-possessory interests, for example, refer to rights that do not include physical possession, such as an easement. A life estate grants possession but is limited in duration to the life of the holder, making it a specific type of ownership rather than a generalizable category for the right of possession.

Thus, the assertion that having the right of possession relates to ownership of an estate in land is accurate, as it encompasses the full range of rights and privileges associated with such