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Possesions vs Assets - What's the difference?

possesions | assets |

As nouns the difference between possesions and assets

is that possesions is while assets is .

possesions

English

Noun

(head)

    • assets

    English

    Noun

    (head)
  • English plurals
  • (finance) Any property or object of value that one possesses, usually considered as applicable to the payment of one's debts.
    • His assets are much greater than his liabilities.
  • (legal) Sufficient estate; property sufficient in the hands of an executor or heir to pay the debts or legacies of the testator or ancestor to satisfy claims against it.
  • Any goods or property properly available for the payment of a bankrupt's or a deceased person's obligations or debts.