Possession means both ownership and the thing, or person, owned. 

Arethusa was my possession. Here she’s lying over one of my legs, ass up, held by her Master. She still shows traces of her last caning, but she has cool, pale, unspanned skin.

I’m holding her, and we don’t speak. That hand says all we need to say to each other.

She knows, ass up over my knee, that her unspanked state isn’t going to last long. But first there’s this pause, while we lie silently together. We feel each other and know each other.

Possessor and possession.