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What does ‘owner occupied’ mean

2 comments  |  Sunday, February 21, 2010

An owner-occupier is a person who lives in a house that he or she owns. Owner-occupancy is therefore also called home ownership. The home of the owner-occupier can range from condominums, apartments, to housing cooperatives. The immovable property, which includes the home and the land it sits upon, is known as the real estate.

Some homes are constructed by the owners with the intent to occupy. Many are inherited. A large number are purchased, either as new homes from a real-estate developer, or as an existing home from a previous landlord or owner-occupier.

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2 Responses to “What does ‘owner occupied’ mean”

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