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An owner who is almost never physically present at a piece of real estate he/she owns. Absentee owners generally do not make repairs or improvements to their properties. If an absentee owner rents out a property, he/she does not interfere with what their tenants do (often even if what they do is illegal) and likewise often do not fulfill the legal requirements to maintain the property.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
absentee ownerOne who does not personally occupy or manage their property.
The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.