The German POSSESSOR DATIVE CONSTRUCTION (PDC) is an instance of EXTERNAL POSSESSION: a single nominal acts simultaneously as possessor, that is, a subpart of a larger nominal phrase, and as a BENEFACTIVE or MALEFACTIVE (AFFECTEE) argument of the verb. The challenge is to understand the mechanisms that make this dual functioning possible. Following Landau [Lingua 107 (1999) 1], this paper presents a POSSESSOR RAISING analysis, arguing that the POSSESSOR DATIVE (PD) moves from the specifier of the possessed nominal to a verbal argument position. The analysis is implemented in a dynamic structure-building framework, where heads with their selectional features are introduced in the course of the derivation, and it is in principle possible that an argument that gets merged into the structure to take on one thematic role raises into a newly built sentence domain to fulfill another thematic role. This movement and the resulting double h-role assignment are crucially driven by formal features; that is, both stem from the fact that, in its origin site, the raised argument is not case-licensed. An additional caselicensing head is needed for the derivation to converge. This head is an affectee light verb which assigns inherent dative case to the argument in its specifier. Thus, unlike Landau's account of PDCs in Hebrew, where PDs can be interpreted as affected