Search Results for: constructive condition

occupancy

occupancy. 1. The act, state, or condition of holding, possessing, or residing in or on something; actual possession, residence, or tenancy, esp. of a dwelling or land. • In this sense, the term denotes whatever acts are done on the land to manifest a claim of exclusive control and to indicate to the public that

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total loss

The complete destruction of insured property so that nothing of value remains and the subject matter no longer exists in its original form. • Generally, a loss is total if, after the damage occurs, no substantial remnant remains standing that a reasonably prudent uninsured owner, desiring to rebuild, would use as a basis to restore

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