Possession Before Settlement Clause Samples
The 'Possession Before Settlement' clause allows a buyer to take physical possession of a property prior to the official settlement date. Typically, this arrangement requires the buyer to agree to certain conditions, such as paying a daily occupancy fee or maintaining insurance, and may specify the responsibilities for utilities and property care during this interim period. The core function of this clause is to provide flexibility for both parties when early access is needed, while clearly allocating risk and responsibilities to prevent disputes before the transaction is finalized.
Possession Before Settlement. If possession is given before settlement:
(1) the Buyer must maintain the Property in substantially its condition at the date of possession, fair wear and tear excepted;
(2) entry into possession is under a licence personal to the Buyer revocable at any time and does not:
(a) create a relationship of landlord and tenant; or
(b) waive the Buyer’s rights under this contract;
(3) the Buyer must insure the Property to the Seller’s satisfaction; and
(4) the Buyer indemnifies the Seller against any expense or damages incurred by the Seller as a result of the Buyer’s possession of the Property.
Possession Before Settlement. If possession is given before settlement:
Possession Before Settlement. If possession is given before settlement:
(1) the Buyer must maintain the Property in substantially its condition at the date of possession, fair wear and tear
Possession Before Settlement. If possession is given before settlement: result of the Seller’s default, including its legal costs on an indemnity basis.
(1) the Buyer must maintain the Property in substantially
Possession Before Settlement. If possession is given before settlement: an indemnity basis and the cost of any Work or Expenditure under clause 7.6(3).
(2) the Buyer must maintain the Property in substantially its condition at the date of possession, fair wear and tear excepted; entry into possession is under a licence personal to the Buyer revocable at any time and does not:
Possession Before Settlement. If possession is given before settlement: result of the Seller’s default, including its legal costs on an indemnity basis.
(1) the Buyer must maintain the Property in substantially 9.9 Interest on Late Payments
(2) its condition at the date of possession, fair wear and tear excepted; entry into possession is under a licence personal to the Buyer revocable at any time and does not:
(1) The Buyer must pay interest at the Default Rate:
(a) on any amount payable under this contract which is not paid when due; and
(b) on any judgement for money payable under this
(a) create a relationship of Landlord and Tenant; or
(b) waive the Buyer's rights under this contract;
(2) contract. Interest continues to accrue:
(4) the Buyer must insure the Property to the Seller’s satisfaction; and the Buyer indemnifies the Seller against any expense or damages incurred by the Seller as a result of the
Possession Before Settlement. Any profit on a resale belongs to the Seller. If possession is given before settlement: