Define: Residential Purpose

How is Residential Purpose defined in a legal contract?

• Residential Purpose means a use exclusive for single-family residential occupancy only, excluding any commercial, business, educational, religious or professional applications whatsoever, with the exception of a home office maintained within a dwelling, which should not involve advertisement signs or regular visits by clients or customers. Seen in 8 SEC filings
• Residential Purpose means the use or occupation of property by any person, including but not limited to the owner of the property, as their place of residence for any duration. Seen in 3 SEC filings
• Residential Purpose means the use of any premises for the dwelling of humans, including all such areas identified as residential in any statutory development plan. Seen in 1 SEC filing
• Residential Purpose means use of a plot of land for constructing residential houses. Seen in 1 SEC filing
• Residential Purpose means use of any land or premises for human habitation but does not include the use of land for the construction of group housing apartments, flats, and colonies. Seen in 1 SEC filing

Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

Search EDGAR for 'Definitions of residential purpose' yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

• Residential Purpose means exclusive use of a property for human dwelling, including single-family houses and home offices without public advertising.

Relevant Contract Types

• Lease Agreement
• Rental Agreement
• Buy-Sell Agreement

Relevant Circumstances

• Entering into a lease or rental agreement for a residential property
• Buying or selling a residential property
• Setting up a home office within a residential property

Relevant Sectors

• Real Estate
• Construction

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Genie Definition 2

• Residential Purpose means use of a plot of land for construction of dwelling structures.

Relevant Contract Types

• Property Purchase Agreement
• Land Lease Agreement
• Construction Contract

Relevant Circumstances

• Buying or leasing land for residential construction
• Entering into a contract for the construction of residential buildings

Relevant Sectors

• Real Estate Development
• Construction

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