When it comes to describing the state of having something, "are in possession of" is a common phrase used. However, there are many synonyms that can be used in its place. For example, you could say that you "have," "hold," or "own" something. You could also use more formal phrasing like "possess" or "maintain possession of." Alternative phrases can add variety to your writing and can help you to avoid repeating the same phrase over and over again. Other synonyms to consider include "are in control of," "are the proprietor of," "retain," "possessing," and "carrying." All of these phrases convey the idea that you have something in your possession.