Squattage

Example:The legal occupancy of the property was granted to the tenants through a formal lease agreement.

Definition:The right to stay on or use property granted through legal means, such as a lease or deed.

Example:The concession agreement allowed the company to construct a facility on the property.

Definition:A formal agreement or permission given in exchange, often involving a payment or compensation, to use or occupy a property.

Example:The construction of the new building required official authorization from the city council.

Definition:An official permission or license to use or occupy property that is recognized by law or by a governing body.