Occupancy refers to the act of physically occupying or possessing property, whether it be residential, commercial, or otherwise. In legal terms, occupancy can establish certain rights and obligations for both landlords and tenants, such as the right to use the premises, pay rent, and maintain the property. It can also determine the legal relationship between parties, such as whether someone is a tenant, licencee, or trespasser. Occupancy rights are often governed by lease agreements, property laws, and landlord-tenant regulations, which outline the rights and responsibilities of each party during the period of occupancy.
- living in or using premises, as a tenant or owner.
- taking possession of real property or a thing which has no known owner, with the intention of gaining ownership.
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This glossary post was last updated: 29th March, 2024.
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