occupancy

(redirected from occupancy level)
Also found in: Dictionary, Thesaurus, Medical, Financial, Encyclopedia, Wikipedia.

Occupancy

Gaining or having physical possession of real property subject to, or in the absence of, legal right or title.

In a fire insurance policy, for example, the term occupancy is used in reference to the purpose to which the land or building is devoted or adopted, as indicated in the policy.

occupancy

n. 1) living in or using premises, as a tenant or owner. 2) taking possession of real property or a thing which has no known owner, with the intention of gaining ownership. (See: occupant)

occupancy

noun actual possession, control, enjoyment, habitation, holding, inhabitancy, ownership, possessio, possession, proprietorship, retention, temporary possession, tenure
Associated concepts: certificate of occupancy, continuous occupancy, illegal occupancy, partial occupancy, physiial occupancy, principal occupation, residency laws, right of occupancy
See also: enjoyment, habitation, inhabitation, occupation, ownership, possession, seisin, tenancy, tenure, use

OCCUPANCY. The taking possession of those things corporeal which are without an owner, with an intention of appropriating them to one's own use. Pothier defines it to be the title by which one acquires property in a thing which belongs to nobody, by taking possession of it, with design of acquiring. Tr. du Dr. de Propriete n. 20. The Civil Code of Lo. art. 3375, nearly following Pothier, defines occupancy to be "a mode of acquiring property by which a thing, which belongs to nobody, becomes the property of the person who took possession of it, with an intention of acquiring a right of ownership in it."
     2. To constitute occupancy there must be a taking of a thing corporeal, belonging to nobody with an intention of becoming the owner of it.
     3.-1. The taking must be such as the nature of the time requires; if, for example, two persons were walking on the seashore, and one of them should perceive a precious stone, and say he claimed it as his own, he would, acquire no property in it by occupancy, if the other seized it first.
     4.-2. The thing must be susceptible of being possessed; an incorporeal right, therefore, as an annuity, could not be claimed by occupancy.
     5.-3. The thing taken must belong to nobody; for if it were in the possession of another the taking would be larceny, and if it had been lost and not abandoned, the taker would have only a qualified property in it, and would hold the possession for the owner.
     6.-4. The taking must have been with an intention of becoming the owner; if therefore a person non compos mentis should take such a thing he would not acquire a property in it, because he had no intention to do so. Co. Litt. 41, b.
     7. Among the numerous ways of acquiring property by occupancy, the following are considered as the most usual.
     8.-1. Goods captured in war, from public enemies, were, by the common law, adjudged to belong to the captors. Finch's law, 28; 178; 1 Wills. 211; 1 Chit. Com. Law, 377 to 512; 2 Woodes. 435 to 457; 2 Bl. Com. 401. But by the law of nations such things are now considered as primarily vested in the sovereign, and as belonging to individual captors only to the extent and under such regulations as positive laws may prescribe. 2 Kent's Com. 290. By the policy of law, goods belonging to an enemy are considered as not being the property of any one. Lecon's Elem. du Dr. Rom. Sec. 348; 2 Bl. Com. 401.
     9.-2. When movables are casually lost by the owner and unreclaimed, or designedly abandoned by him, they belong to the fortunate finder who seizes them, by right of occupancy.
    10.-3. The benefit of the elements, the light, air, and water, can only be appropriated by occupancy.
    11.-4. When animals ferae naturae are captured, they become the property of the occupant while he retains the possession; for if an animal so taken should escape, the captor loses all the property he had in it. 2 Bl. Com. 403.
    12.-5. It is by virtue of his occupancy that the owner of lands is entitled to the emblements.
    13.-6. Property acquired by accession, is also grounded on the right of occupancy.
    14.-7. Goods acquired by means of confusion may be referred to the same right.
    15.-8. The right of inventors of machines or of authors of literary productions is also founded on occupancy. Vide, generally, Kent, Com. Lect. 36; 16 Vin. Ab. 69; Bac. Ab. Estate for life and occupancy; 1 Brown's Civ. Law, 234; 4 Toull. n. 4; Lecons du Droit Rom. Sec. 342, et seq.; Bouv. Inst. Index, h.t.

References in periodicals archive ?
HOTELS across the region registered an increase in occupancy levels in the first quarter, despite a slow start to the year, says the latest report by accountancy and business advisory firm BDO.
Even with an occupancy level of 95% of the total design capacity of a prison estate, it becomes nigh impossible for a prison service to deliver what is required of it, and more particularly, to ensure respect for inmates' human dignity.
The 'AA' rating is supported primarily by the foundation's substantial liquidity relative to its guaranty obligation; solid debt service coverage provided by the pledged net rental income due to the high occupancy levels of the foundation's rental buildings; limited operating costs due to the pass-through of project operating and maintenance monies, received by Florida State University (FSU) from the state on the foundation's behalf; a manageable and declining debt burden; and the research status of FSU.
During the January to April period, Dubai's city hotel average occupancy level reached 90 per cent and average daily rate (ADR) jumped to $241 from $226 during the same period last year, resulting in an increase in revenue per available room (RevPar) of 6.
DESPITE occupancy levels holding up, Welsh hoteliers experienced a significant fall in room yields in September compared to last year, shows latest research by PKF Hotel Consultancy Services.
2 per cent occupancy level in January has placed it on top of the list of 15 top performance destinations, up from 75.
Lebanon also recorded a double-digit decline in occupancy level in percentage point.
At the time of our results on July 1 the contracted occupancy levels stood at 46 per cent and since then we have completed further transactions taking the contracted occupancy level to 62 per cent.
Corrections Corporation of America's current system-wide occupancy level is 93.
The preliminary fall 2006 freshmen class is approximately 100 students higher than the fall 2005 class, which should translate into a slightly higher occupancy level.
This non-recourse, assumable first mortgage was funded on an 82% leased office building with a small holdback which will be released to the Borrower once the property has achieved a stabilized 90% occupancy level.
30, 1993, the company achieved an average occupancy level of 105.