"Physical possession" refers to having direct control or ownership of something that can be touched or held. It means physically having something in your hands or at your location. Full definition
No matter what the arrangement, the parent in physical possession of the child has no right to keep the other parent away or set time limits on visits. (oureverydaylife.com)
Someone whose only readers were those in physical possession of their writing? (bookbooster.net)
Most of the time the owner of a bond will not take physical possession of the bond certificate and does not have to complete legal paperwork to buy and sell bonds. (investopedia.com)