Own vs. possess

[Rich7]

Test No. incompl/inter-4 "Easy Questions", question 8

He has lots of money and ......... two houses in the city.

(a) holds
(b) owns
(c) occupies
(d) possesses

Test No. incompl/inter-4 "Easy Questions", answer 8

He has lots of money and owns two houses in the city.

Correct answer: (b) owns

Your answer was: correct
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any difference between these two?

posses and own.

[Alan]

The main difference is that possess is more often used in a figurative sense as in possess a sense of humour and in the owning sense it is generally used in a more personal way as in everything you possess means all those things close to you. Own is essentially factual and non-personal as in owning property/shares/land.
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English as a Second Language
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[Luda]

why not "holds?"

[Alesger]

Hi,

Can I use 'possess' for a chemical compound?
For example, can I say 'This compound possesses certain properties.'

Thanks

[Beeesneees]

Yes.
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Cheers m' dears!

[Moylopez]

Great explication Alan.

I didn't know, and i was using this word without total comprehension.

Thanks again !!