Ownership type of property owner

Definition

Ownership type refers to whether an owner of a residential property is a person or an entity included in the classification of 'business and government' (such as corporations, governments, sole proprietorships and partnerships, and other legal types). In the context of residential property, assignment of ownership type is as follows: A property is considered owned by a person if all owners of a property are persons in the ordinary sense of the word. Conversely, properties are deemed owned by a 'business and government' if all or some owners are not persons.

Property owner refers to a person or an entity included in the classification of 'business and government' (such as corporations, governments, sole proprietorships and partnerships, and other legal types) that has property title transferred to, recorded in, registered in, or otherwise carried in their name.
A property may have more than one owner or an owner may have more than one property, therefore the count of owners and properties can differ.

Classifications

• Classification of ownership type January 01, 2018 to current

Relation to previous version

• Ownership type of property owner November 10, 2022 to current

  November 10, 2022 - The wording of the definitions of 'ownership type' and the statistical unit 'property owner', and one of the category names in the classification have been modified by replacing 'non-individual' with 'business and government'.