Proprietor

Definition

• An owner of a business or property.
• 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.

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