USE AND OCCUPANCY - U&O
Use And Occupancy or U&O is the kind of permit select local governments require during times of real property transfer. It is also called as ‘occupancy permit’, ‘resale inspection’, and ‘U&O certificate’. Typically, in U&O regulations, the seller of the property is required to settle an approximate of $100 fee as the property is inspected by a government official. Inspections are conducted for the purpose of guaranteeing that the property is adhering to the local housing codes and ordinances with all the necessary paperwork and permits filed.
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Transaction
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IRS Publication 596
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Depository Trust Company Tracking - DTCT
A service, used by underwriting firms, that provides a method of tracking the exact path of purchases and sales of newly issued securities.
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