Owner-occupied definition

Owner-occupied means property that is the principal

Owner-occupied means a single-family residence occupied by

Owner-occupied means the owner of the property who resides in the short-term rental property, or in the principal residential unit with which the short-term rental property is associated on the same lot and identifies the same as his or her principal residence as that term is defined in this section. For purposes of this section, if the owner of the property is an entity other than an individual or individuals, then at least one principal or member of the owner entity must reside in the short-term rental property, or in the principal residential unit with which the short-term rental property is associated on the same lot and identify same as his or her principal residence as that term is defined in this section.

More Definitions of Owner-occupied

Owner-occupied means property that is the principal residence of the borrower.

Owner-occupied means a dwelling which is occupied by the owner and includes a single family dwelling or a dwelling unit in a stock cooperative, as defined by Business and Professions Code (BPC), Section 11003.2, a community apartment project, as defined by BPC Section 11004, or a condominium project, as defined by subdivision (c) of BPC Section 11004. 5.

Owner-occupied means that the owner of the STRP or a Responsible Party (see below) resides in the STRP or in the principal residential unit with which the STRP is associated on the same lot, and identifies same as his or her principal residence. If a STRP is not owned by an individual, then at least one principal or member of the owner entity must reside in the STRP or in the principal residential unit with which the STRP is associated on the same lot, and identify same as his or her principal residence.

Owner-occupied means that the residence is occupied by: The legal owner; a person who does not hold for- mal title to the residence but is respon- sible for payment of taxes, mainte- nance of the residence, and pays no rent; or a person who has lifetime occu- pancy rights in the residence with for- mal title vested in another. In States where documentation proving owner- ship is not recorded or does not exist, the State is required to include in its administrative plan a State Attorney General approved set of conditions de- scribing adequate proof of ownership.

Owner-occupied means the owner is domiciled in the subject building or unit.

Owner-occupied means that the residential building, or at least a portion or one unit thereof, condominium, or cooperative, is occupied by the owner of the residential building as their principal residence.

Owner-occupied means owner must reside on the property and be present at the property for the duration of any short-term rental.