Owner-occupied definition
Owner-occupied means property that is the principal
Owner-occupied means property that is the principal residence of the borrower.
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 a single-family residence occupied by
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 a single-family residence occupied by the owner as his or her principal residence.
Owner-occupied means the owner is domiciled in the subject building or unit.
Owner-occupied means owner must reside on the property and be present at the property for the duration of any short-term rental.
Owner-occupied means the owner of the property permanently resides in the STRP or in the principal residential unit with which the STRP is associated on the same lot; provided however that in order to qualify as owner-occupied, the owner of the property: (1) must be a natural person or persons; (2) may not be a limited liability entity, including without limitation a corporation or limited liability company; and (3) may not be an unincorporated entity, including without limitation a partnership, joint venture, or trust.