Proprietor

Definition

• One of the owners of an unincorporated business (a partner). If an unincorporated business has only one owner, he or she would be referred to as the sole proprietor.
• An owner of a business or property.

Synonyms
freeholder, land owner, holder, possessor, titleholder, owner

Related Terms and Acronyms

• Closely Held — Definition,
  • Schedule II banks may be closely held, i.e., one party (owner) may hold more than 10% of the outstanding shares. Schedule I banks are prohibited from this type of ownership.
• Commercial Property — Definition,
  • A parcel in a district zoned for business.
• Entity-Purchase Agreement — Definition,
  • A plan used for businesses with multiple owners where insurance policies are taken out for each owner in the amount of their ownership stake.
• Entrepreneur — Definition,
  • A person who starts and manages a business.
• Eviction — Definition,
  • The act of kicking someone out of a property, usually for violating terms of a lease.
• Ground Rent — Definition,
  • Amount a leaseholder pays periodically for use of land only.
• Homeowners' Association (HOA) — Company,
  • An elected group that governs a subdivision or planned community. It collects fees from owners to maintain common areas and enforce covenants, conditions and restrictions set by the developer and the association itself.
• Income Property — Definition,
  • Real estate developed or improved to produce income. Also referred to as "non-owner occupied property" or "rental property."
• Landlord — Definition,
  • One who rents or leases his or her property to another person or a business.
• Owner Occupant — Definition,
  • A borrower who resides in the property used as security for the loan.
• Self Employed Person (SEP) — Acronym,
  • A person who runs a trade or business, rather than working as an employee for someone else. You are self-employed if you are a sole proprietor or a partner working in a business. You can be an employee and self-employed at the same time if you have an independent business outside your regular employee hours. To qualify for many business tax exclusions and deductions, the enterprise must make a profit in three of five years. In most cases in order to qualify you must take and average of the last 2-3 years tax assessments.
• Small- and Medium-sized Enterprises (SMEs) — Abbreviation,
  • Limits banks place on businesses to determine there size.
  ➥ A term widely used by the World Bank and the World Trade Organization (WTO).