From "A Dictionary of Basic Japanese Grammar":
There is another possessive expression, motte iru, which is the te-form of motsu 'hold' folled by the auxiliary verb iru. However, motte iru is used only when the possessor is animate and the possessed thing is inanimate. Thus, [1] is acceptable, but [2] and [3] are not.
[1] ジョンはいい車を持っている。
Jon wa ii kuruma o motte iru. (John has a good car.)
[2] *ジョンは妹を持っている 。
*Jon wa imouto o motte iru. (John has a younger sister.)
[3] *この車はクーラーを持っている。
*Kono kuruma wa kuuraa o motte iru. (This car has an air-conditioner.)
Groups and organizations of people such as political parties, countries, institutions and companies can also be possessors in sentences with motte iru, as in [4].
[4] この大学はいい図書館を持っている。
Kono daigaku wa ii toshokan o motte iru. (This university has a good library.)
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