occupancy

(ŏkˈyə-pən-sē)

1. a. The act of occupying or the condition of being occupied.
   b. The state of being an occupant or tenant.
2. a. The period during which one owns, rents, or uses certain premises or land.
   b. The use to which something occupied is put: a building for commercial occupancy.
3. Law The act of taking possession of previously unowned property with the intent of obtaining the right to own it.