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The purpose of obtaining a certificate of occupancy is to prove that, according to the law, the house or building is in liveable condition. Generally, such a certificate is necessary to be able to occupy the structure for everyday use, as well as to be able to sign a contract to sell the space and close on a mortgage for the space.
Leasehold is a form of land tenure or property tenure where one party buys the right to occupy land or a building for a given time. As a lease is a legal estate, leasehold estate can be bought and sold on the open market.
In Nigeria, all land is vested in the government under the Land Use Act of 1978, and certificates of occupancy are equivalent to 99-year leases entitling the holder to occupy the land. [2] Mechanisms similar to certificates of occupancy include temporary occupancy permits ( Botswana ), certificates of land use ( Thailand ), and preemptive ...
Owner-occupancy or home-ownership is a form of housing tenure in which a person, called the owner-occupier, owner-occupant, or home owner, owns the home in which they live. [1]
(However, a document which describes itself as a licence may in fact be a lease, especially if the practical consequence is that the grantee has exclusive occupation.) a tenancy at will (however, a tenancy described as a tenancy at will may in fact be some other type of tenancy such as a periodic tenancy , especially if rent is paid)
A licence is said to be a personal obligation, which in traditional theory was said to create rights enforceable only between the people privy to the licence. [149] First, licences may arise by implication of the law, such as when a customer walks through an open shop door.
A license (American English) or licence (Commonwealth English) is an official permission or permit to do, use, or own something (as well as the document of that permission or permit). [ 1 ] A license is granted by a party (licensor) to another party (licensee) as an element of an agreement between those parties.
Rights conferred by Aboriginal title include the right to decide how the land will be used; to enjoy, occupy and possess the land; and to proactively use and manage the land, including its natural resources. [7] But, the court set out a Sparrow-style mechanism by which the Crown can override Aboriginal title in the public interest: