Definitions for "Owner Occupied"
Keywords:  occupy, resides, primary, remit, tenure
(As used in EIA's consumption surveys.) Having the owner or the owner's business represented at the site. A building is considered owner occupied if an employee or representative of the owner (such as a building engineer or building manager) maintains office space in the building. Similarly, a chain store is considered owner occupied even though the actual owner may not be in the building but headquartered elsewhere. Other examples of the owner's business occupying a building include State-owned university buildings, elementary and secondary schools owned by a public school district, and a post office where the building is owned by the U.S. Postal Service.
Refers to a building that has the owner or the owner’s business represented at the site.
A property that will be used by the borrower as his/her primary residence.