Non-Primary Residence definition
Non-Primary Residence means a building occupied less than six months of a calendar year.
Non-Primary Residence means a Dwelling that is not a Primary Residence.
Non-Primary Residence means a Dwelling that is not a Primary Residence. For properties with two (2) or more existing legally permitted Dwelling Units (e.g., a duplex), the term “Non-Primary Residence” shall mean each unit located on that property, excluding Accessory Dwelling Units or a Junior Accessory Dwelling Units for which a construction permit was applied for on January 1, 2020, or later. Accessory Dwelling Units or Junior Accessory Dwelling Units for which a construction permit was applied for prior to January 1, 2020, and any other accessory habitable structures that are located on a Non-Primary Residence property shall be considered part of the primary single-family residence for purposes of this chapter.
Examples of Non-Primary Residence in a sentence
All of the Borrowers represented at the time of origination of the related Eligible Mortgage Loan that any such Borrower would occupy the Mortgaged Property as the Borrower’s primary residence, other than with respect to Non-Primary Residence Mortgage Loans.
More Definitions of Non-Primary Residence
Non-Primary Residence means a residence which is not the primary residence of an individual and is used for, but not limited to, holidays, leasing, renting and has a separate title deed than the primary residence;