Glossary

glossary

vacant property: Properties may be chronically vacant or temporarily so (e.g. vacation homes or awaiting move-in or under rehabilitation or construction.) Although there is no agreed-upon definition, the National Vacant Properties Campaign defines vacant properties as vacant residential, commercial, and industrial buildings and lots that exhibit one or both of the following traits: 1) The site poses a threat to public safety (meeting the definition of a public nuisance), or 2) The owners or managers neglect the fundamental duties of property ownership (e.g., they fail to pay taxes or utility bills, default on mortgages, or carry liens against the property.)