Which term refers to legal rights held by a person or entity?

The term that best refers to legal rights held by a person or entity is "claims." In legal terminology, a claim represents a demand for something as due, often involving the right to enforce a legal entitlement or seek a legal remedy. It encompasses a broad range of rights, whether based on contract, tort, or statutory law, and indicates an assertion of a legal right that can be enforced in a court of law.

The other terms, while related, do not convey the same comprehensive legal implication. "Entitlements" often refer to the benefits or rights that an individual believes they deserve based on statutory or social provisions, rather than a general assertion of legal rights. "Possessions" emphasize ownership or control over physical or intellectual property, which does not directly correlate with the broader concept of legal rights. "Interests" can indicate a stake or concern in a matter, but it lacks the assertive nature of a claim where legal recourse is sought. Thus, "claims" accurately captures the idea of legal rights as assertions that can be pursued legally.