Crossword Genius

A precious possession one is not bound to have (7)

Ross

I believe the answer is:

freedom

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'a precious possession' is the definition.
The answer and definition can be both states of affairs as well as being singular nouns.
Maybe there's a link between them I don't understand?

'one is not bound to have' is the wordplay.
'one is not bound' becomes 'free' ('free' is the opposite to 'bound').
'to have' becomes 'dom' (I can't explain this - if you can you should believe this answer much more).
'free'+'dom'='FREEDOM'

Can you help me to learn more?

(Other definitions for freedom that I've seen before include "Release" , "novel" , "Autonomy" , "Independence" , "Liberty, civil liberty" .)

I've seen this clue in The Globe and Mail.
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