Examples of Occupied property in a sentence
If leases are unavailable at the time of signing, use the Tenant Occupied Property Addendum (PAR Form TOP).
TxDOT will provide, or cause to be provided, relocation benefits for (1) Owners who participate in the Acquisition Program (except homeowners who elect to retain a life estate waive their rights to any relocation benefits), (2) Tenants of an Owner Occupied Property or Residential Rental Property in which the Owners participate in the Acquisition Program, and (3) Businesses who participate in the Acquisition Program.
For an Owner Occupied Property, the offer shall also give the Owner the right to retain a life estate in the property.
TxDOT will ensure that to each eligible Owner of Owner Occupied Property in the Neighborhood will be made an offer to purchase a covenant that permanently prohibits the use of the property for residential purposes upon any future conveyance of the property, and an option to purchase the property for its then appraised value if the Owner elects to sell the property or upon the death of the Owner, whichever occurs first.
Notwithstanding anything to the contrary contained in the Voluntary Restrictive Covenant Program, if the Eligible Homeowners accept the Port’s offer to buy an Owner Occupied Restrictive Covenant and Option on their Owner Occupied Property, the Port may assign its contractual obligation to purchase the Owner Occupied Restrictive Covenant and/or Option to a third party of the Port’s choosing.