What does a certificate of occupancy confirm about a building?

A certificate of occupancy is a critical document in real estate that confirms that a building complies with local safety and building code standards. This certification is typically issued by a local government or authority after an inspection has been conducted to ensure that all code requirements are met regarding health, safety, and general welfare. It signifies that the building is safe for occupation and has been constructed in accordance with approved plans and specifications.

The other options do not accurately reflect the purpose of a certificate of occupancy. For example, it does not indicate who occupies the building, whether it is exempt from property taxes, or confirm the accurate appraised value of the property. Understanding the role of the certificate of occupancy is essential for real estate professionals, as it impacts the usability and legal standing of a building for both owners and tenants.