Security of Tenure - Home owned by a Private Company or Trust

Principal home owned by a controlled private company or trust

If an individual lives in a home that is owned by a private company or private trust in which they have an interest, the home is assessed as the individual's principal home if they have reasonable security of tenure. An individual is a homeowner if they have a right or interest in the place they occupy as their home, and the right or interest gives them reasonable security of tenure.

Reasonable security of tenure

If a formal or written agreement between a company or trust and an individual gives the individual the right of occupancy at will or a long term lease then:

• the individual is a homeowner, and
• the home is assessed as the individual's principal home.