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Owner-occupancy or home-ownership is a form of housing tenure in which a person, called the owner-occupier, owner-occupant, or home owner, owns the home in which they live. [1] The home can be a house , such as a single-family house , an apartment , condominium , or a housing cooperative .
OOCRE is distinct from commercial investment property and is viewed differently. In investment properties, the building generates cash flow that services the debt with banks. The duration, dollar amount, and credit quality of the tenants determine in part a bank's willingness to lend. In OOCRE lending, the cash flow to service the bank debt is ...
Typically, a broker will market a property on behalf of the seller. Brokers representing buyers or buyers' representatives identify property meeting a set of criteria set out by the buyer. Types of buyers may include an owner-user, private investor, acquisitions, capital investment, or private equity firms. The buyer or its agents will perform ...
In general, a property owner has the right to recover possession of their property from unauthorised possessors through legal action such as ejectment.However, many legal systems courts recognize that once someone has occupied property without permission for a significant period of time without the property owner exercising their right to recover their property, not only is the original owner ...
The purpose of obtaining a certificate of occupancy is to prove that, according to the law, the house or building is in liveable condition. Generally, such a certificate is necessary to be able to occupy the structure for everyday use, as well as to be able to sign a contract to sell the space and close on a mortgage for the space.
Housing tenure is a financial arrangement and ownership structure under which someone has the right to live in a house or apartment. The most frequent forms are tenancy, in which rent is paid by the occupant to a landlord, and owner-occupancy, where the occupant owns their own home. Mixed forms of tenure are also possible.
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Ownership is the state or fact of legal possession and control over property, which may be any asset, tangible or intangible.Ownership can involve multiple rights, collectively referred to as title, which may be separated and held by different parties.