What does occupancy ot mean

Cash basis accounting: Recognizing revenue and expense when cash is received or disbursed rather than when earned or incurred. A service business not dealing in inventory has the option of using the cash or accrual basis of accounting. Individual taxpayers must use the accrual basis.

Cash flow: Cash receipts minus cash disbursements from an operation or asset. An annual cash flow statement shows total return after taxes. Caveat emptor: Latin phrase meaning "let the buyer beware. Certificate of reasonable value CRV. Veterans Administration's certified appraisal of value of real property. Certificate of taxes: A written guaranty of the condition of the taxes on a certain property made by the county treasurer wherein the property is located.

Any loss resulting from an error in a tax certificate shall be paid by the county that such treasurer represents. Chapter Provision of the Bankruptcy Reform Act that covers reorganizations where the debtor remains in control of the business and its operations. Chapter 7: Provision of the Bankruptcy Reform Act that covers liquidations under a court appointed trustee.

Chattel: Property other than real estate, i. Check: Synonym for quadrangle, a 24 mile square tract of land in the Governmental Survey System. Cloud on title: An outstanding claim or encumbrance that affects or impairs title to the property.

Cognovit note: One containing a confession of judgment waiver of due process by the borrower. Collateral security: Some security additional to the personal obligation of the borrower, as a chattel mortgage or trust deed. Colorado Coordinate System: A method of land description based on measurements from the intersection of statutorily defined north-south and east-west axes; applied only in Delta and Ute Counties.

Commingling: Mixing money belonging to others with personal or business funds. Illegal commingling is using the money of one beneficiary for the benefit of another or failing to maintain such money in identified escrow accounts. Common interest community: real estate described in a declaration which obligates an individual unit owner to pay property tax, insurance premiums, maintenance or improvement on some declared real property owned in common. Ownership does not include a leasehold interest of less than forty years, measured from the date the initial term commences, including renewal options.

Common-law: Law evolving from usage, custom and judicial interpretation rather than legislated by statute. Common law originated in old English courts. Community property: Property acquired by a husband and wife, or either, during marriage, by their industry and not by gift, belonging equally to husband and wife. Condemnation: In real property law, the process by which property of a private owner is taken for public use, with compensation to the owner, under the governmental right of eminent domain.

Condominium: A common interest community in which portions of the real estate are designated for separate ownership and the remainder of which is distributed for common ownership solely among separate owners. A common interest community is not a condominium unless the undivided interests in the common elements are vested in the unit owners.

Consideration: A promise or an act of legal value bargained for and received in return for a promise; one of the essential elements of a contract. Construction mortgage: A short-term loan used to finance the building of a structure. Constructive or legal notice: The conclusive presumption that all persons have knowledge of the contents of a recorded instrument. Contract: An agreement, enforceable at law, between two or more competent persons, having a legal purpose, wherein the parties agree to act in a certain manner.

Controller: The chief accounting executive of an organization responsible for 1 financial reporting, 2 tax administration, 3 management audits, 4 planning controls and 5 developing accounting systems and procedures. Conventional mortgage: A mortgage securing a loan made by private investors without governmental participation, i. Conversion: Unauthorized appropriation of ownership rights over goods or property belonging to another; also altering one form of property to another such as changing a leasehold apartment building to freehold condominium ownership.

Conveyance: An instrument in writing by which a person transfers some estate, interest, or title in real estate to another, such as a deed or lease. Covenant: A promise or agreement, usually in writing, to do or not do certain acts; also stipulations in a real estate conveyance document governing use of the property.

Cubage: The product of multiplying width x height x depth or length of an object. Cubic foot per second: A unit of discharge for measurement of flowing liquid, equal to a flow of one cubic foot per second past a given section.

Also called "second-foot". Customer: A party to a real estate transaction with whom the broker has no brokerage relationship because such party has not engaged or employed a broker. Debenture: Bonds issued without specific security and are secured only by the overall equity of the issuer. Declaration: A recorded instrument that defines boundaries and common elements of a condominium and establishes the basic rights and obligations of the owners.

Dedication: Transfer of land from private to public use, as streets in a platted subdivision. Deed: A legal instrument in writing, duly executed and delivered, whereby the owner grantor conveys to another grantee some right, title or interest in or to real estate. Deed restriction: A provision in a deed controlling or limiting the use of the land. Default: Omission or failure to perform a legal duty; failure to meet an obligation when due. Defeasible fee base- or qualified fee : A fee interest in land that is capable of being defeated or terminated upon the happening of a specified event.

Depreciation: Loss in value due to deterioration from ordinary wear and tear, action of the elements, functional or economic obsolescence. Designated broker: An employing or employed broker designated in writing by an employing broker to serve as a single agent or transaction-broker for a seller, landlord, buyer or tenant in a real estate transaction; does not include a real estate brokerage firm that consists of only one licensed natural person. Documentary fee: A statutory Colorado tax of one cent per one hundred dollars sale price x.

Dower: A common-law estate consisting of a one-third interest in a husband's real property given to his wife upon his death. Due-on-sale clause: A provision in a mortgage or trust deed which allows the lender to call a promissory note due and payable in full immediately upon the sale or transfer of a secured property; allows a lender to raise the interest rate or force other changes in terms upon assumption of the loan.

Earnest money: Down payment made by a purchaser of real estate as evidence of good faith. Easement: A right or interest in the real property of another; the right to use another's land for a specific purpose, such as a right-of-way. Economic life: The period of time over which improved property may be profitably used. Eminent domain: A governmental right to take private property for public use through the process of condemnation, and with payment of just compensation.

Encumbrance: A claim, lien, charge, or liability attached to and binding upon real property, such as a judgment, mortgage, mechanic's lien, lien for unpaid taxes, or right-of-way. Endorsement: Signing one's name on a negotiable instrument with intent to transfer ownership; also an addition altering or clarifying coverage of an title insurance policy. Escheat: reversion of property to the state when an owner dies without leaving a will or legal heirs to whom the property may pass by lawful descent.

Escrow: The state or condition of money or a deed held conditionally by a third party, called the escrow agent, pending the performance or fulfillment of some act or condition.

Escrow account: Any checking, demand, passbook or statement account insured by an agency of the United States government maintained in a Colorado depository for money that belongs to others. Escrow agreement: A written agreement whereby a grantor, promissor or obligor delivers certain instruments or property to an escrow agent, to be held until the happening of a contingency or performance of a condition, and then to be delivered to the grantee, promisee or obligee.

Estate: The degree, quantity, nature and extent of a person's interest in real property; such as a fee simple absolute estate, or an estate for years. Estate from period-to-period periodic tenancy : An interest in land with no contract date of termination. The rental period week, month or year, etc. Estate tenancy at sufferance: An estate in land arising when the tenant wrongfully holds over after the expiration of the tenant's term; the landlord has the choice of evicting the tenant as a trespasser or accepting such tenant for a similar term and under the conditions of the tenant's previous holding.

Estate tenancy at will: An interest in land terminable at the will of either the tenant or landlord. Estate tenancy for years: An interest in land for a fixed period of time, e. Et al. Latin abbreviation for "et allus", meaning "and others". Et ux. Latin abbreviation for "et uxor", meaning "and wife". Eviction: Dispossession by process of law; the act of depriving a person of the possession of land pursuant to a court judgment. Exclusive agency listing: A listing whereby the owner engages a real estate brokerage as sole broker for a specified period of time, while retaining the right to sell the property to a buyer that the owner finds without paying the broker a commission.

Exclusive right-to-sell listing: A listing whereby the owner engages one real estate brokerage as sole broker for a specified period of time, entitling the broker to a commission regardless of who sells the property, including the owner.

Execution: A writ issued by a court to the sheriff directing seizure and sale of a property to satisfy a debt; the act of signing a contract; completion of the terms of a contract. Fee simple absolute, fee or fee simple : The most comprehensive ownership of real property under law; the largest bundle of ownership rights possible.

Time limit is exhausted. I am a real estate agent in Edmonton, Alberta. I believe in focusing on the facts. Press enter to begin your search. What Does Occupancy Mean?

What does Occupancy Mean? On a real estate listing, occupancy describes who currently lives in the home. Why Does it Matter? Sponsored Links. Join the discussion 2 Comments. David Walle says:. September 22, at pm. Alan F Macdonald says:. If by any chance you spot an inappropriate image within your search results please use this form to let us know, and we'll take care of it shortly.

Term » Definition. Word in Definition. Princeton's WordNet 0. GCIDE 4. Etymology: [See Occupant. Wiktionary 5. Freebase 1. Matched Categories Residency. How to pronounce occupancy? Alex US English. David US English. Mark US English. Daniel British. Libby British. Mia British. Karen Australian. Hayley Australian. Natasha Australian. Veena Indian. Priya Indian. Neerja Indian.