Possessory interest means an interest that exists as a result of possession or exclusive use or a right to possession or exclusive use of a property and that is unaccompanied by ownership of a fee simple or life estate in the property. However, "possessory interest" does not include an interest, whether of limited or indeterminate duration, that involves a right to exhaust a portion of a real property.
Possessory interest shall have the meaning set forth in Exhibit A to this Contract.
Possessory interest means any interest described in Section 107.
Examples of Possessory interest in a sentence
LICENSEE, as the party in whom the Possessory Interest is vested, may be subject to the payment of the property taxes levied by the State and County upon such interest.
In addition, by executing the AGREEMENT and accepting the benefits thereof, a property interest may be created known as a "Possessory Interest" and such property interest will be subject to property taxation.
More Definitions of Possessory interest
Possessory interest means either (1) a fee interest in the Subject Property or any portion thereof or (2) the lessee’s estate in a ground lease of all or substantially all the Subject Property or portion thereof.
Possessory interest means any non-exempt interest in real property within the
Possessory interest. ’ means the par- tial or total ownership of a cabin or structure.
Possessory interest means an interest in real property which exists as a result of possession, exclusive use, or a right to possession or exclusive use of land and/or improvements unaccompanied by the ownership of a fee simple or life estate in the property. Such an interest may exist as the result of:
Possessory interest means either (1) a fee interest in the Property or any portion thereof or (2) the lessee's estate in a ground lease of all or substantially all the Property or all or substantially all of any Parcel or portion thereof.
Possessory interest means possession of, claim to, or right to the possession of land or improvements and shall include any exclusive right to the use of such land or improvements. [Ord. 5184 § 1, 2014].
Possessory interest means the property rights within Tribal boundaries, whether obtained by a lease, right-of-way, easement, permit, other agreement, or occupancy (whether authorized or not).