occupancy agreement

occupancy agreement

An agreement that allows a buyer to take possession of property prior to closing on the purchase. Except for the most unusual of circumstances, it is usually a poor idea because of the risks involved if the sale falls through.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Under the Occupancy Agreement, no fee will be collected from the teachers, except for a minimal R1,000 in monthly maintenance cost.
Some of its significant obligations included $21.7 million for maintaining ongoing operations of the CFPB's consumer contact center and case management database; $14.7 million to the Federal Reserve Board for shared IG support services; $14.4 million to the Department of Treasury for information technology infrastructure and other administrative services; $12.1 million for a one-year building occupancy agreement with the Office of the Comptroller of the Currency; and $10.0 million for a one-year building occupancy agreement with the General Services Administration for the CFPB's temporary headquarters office space.
NAVSEA leadership worked with the General Services Administration to put together an occupancy agreement allowing NAVSEA to temporarily move into the building.
Other go by the name "occupancy agreement," but are leases.
The company has taken this step following a negotiated settlement with the Carrizalillo Ejido for a new land occupancy agreement with a five-year term.
At that time, British and American interests were operating in the Oregon country under a joint occupancy agreement that did not address the question of sovereignty.
At Value Place, each renter signs a weekly occupancy agreement, so it is expected that neighbors will change frequently.
The tenant signed an occupancy agreement that had a "no pets" provision when he first moved in.
Officers told the committee: "It is considered the proposal is one that can be approved, with the developers having already confirmed they are prepared to enter into a local occupancy agreement for four semi-detached houses."