Joint Owners. 7.1 If the Occupation Right was initially granted to two of you, then you both will hold the benefits and have obligations under the Occupation Right jointly. Upon the death of one of you, the interest of that person will automatically transfer to the survivor of you, and the survivor will be entitled to a transfer of the Occupation Right into his or her sole name.
Appears in 4 contracts
Samples: Occupation Right Agreement, Occupation Right Agreement, www.khvct.co.nz
Joint Owners. 7.1 If the Occupation Right was initially granted to two of you, then you both will hold the benefits and have obligations under the Occupation Right jointly. Upon the death of one of you, the interest of that person will automatically transfer to the survivor of you, and the survivor will be entitled to a transfer of the Occupation Right into his or her sole name.
Appears in 1 contract
Samples: www.fallsestate.co.nz
