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Post Possession Agreement
"I need a Post Possession Agreement for a residential property sale in Vancouver, where the seller needs to stay in the property for 45 days after the closing date of March 15, 2025, due to construction delays at their new home."
1. Parties: Identification of the Seller (as occupant) and Buyer (as owner) and their contact details
2. Background: Context of the agreement, including reference to the main purchase agreement and reason for post-possession arrangement
3. Definitions: Key terms used throughout the agreement including 'Possession Period', 'Premises', 'Rent', etc.
4. Term and Possession: Duration of post-possession period, specific dates and times for possession and final vacancy
5. Financial Terms: Rent/occupancy fee amount, payment schedule, security deposit, and utilities responsibility
6. Property Condition: Requirements for maintaining the property condition and responsibility for damages
7. Insurance Requirements: Required insurance coverage for both parties during the post-possession period
8. Access Rights: Buyer's rights to access the property during the post-possession period
9. Termination: Circumstances and process for early termination of the agreement
10. Default and Remedies: Consequences of breach and available remedies for both parties
11. General Provisions: Standard clauses including governing law, notices, and amendment procedures
1. Pet Provisions: Include when the occupant has pets, specifying responsibilities and restrictions
2. Maintenance Services: Include when specific maintenance services need to be continued or arranged during the post-possession period
3. Storage Arrangements: Include when certain areas of the property are designated for storage of buyer's items
4. Property Showing Rights: Include when the occupant needs to accommodate showings for rental or other purposes
5. Utilities Transfer: Include when specific arrangements are needed for utility transfers
6. Holdover Provisions: Include specific penalties and procedures if occupant remains beyond agreed period
7. Moving Company Requirements: Include when specific requirements for moving companies need to be specified
1. Schedule A - Property Description: Detailed description of the property and any excluded areas
2. Schedule B - Rent Payment Schedule: Detailed breakdown of rent/occupancy fee payments and due dates
3. Schedule C - Property Condition Report: Documented condition of property at start of post-possession period
4. Schedule D - Insurance Certificates: Copies of required insurance policies and certificates
5. Schedule E - Move-out Inspection Checklist: Detailed checklist for final inspection and property handover
6. Appendix 1 - Security Deposit Terms: Detailed terms regarding the security deposit, including use and return conditions
7. Appendix 2 - Utility Arrangements: Specific arrangements for utility payments and transfers
Authors
Buyer
Seller
Premises
Possession Period
Possession Date
Vacancy Date
Occupancy Fee
Security Deposit
Purchase Agreement
Closing Date
Common Areas
Insurance Requirements
Utilities
Personal Property
Property Condition Report
Force Majeure
Business Day
Default
Permitted Use
Occupants
Notice
Holdover Period
Damage
Emergency
Access Rights
Maintenance
Inspection
Governing Law
Substantial Breach
Recitals
Definitions
Term and Possession
Payment Terms
Security Deposit
Insurance
Property Access
Maintenance and Repairs
Utilities and Services
Property Condition
Liability and Indemnification
Default and Remedies
Early Termination
Force Majeure
Assignment and Subletting
Notice Requirements
Governing Law
Dispute Resolution
Entire Agreement
Amendment
Severability
Holdover
Risk of Loss
Representations and Warranties
Compliance with Laws
Emergency Procedures
Counterparts
Real Estate
Legal Services
Insurance
Property Management
Financial Services
Residential Housing
Commercial Property
Banking
Property Development
Legal
Real Estate Operations
Risk Management
Property Management
Contract Administration
Compliance
Insurance
Transaction Processing
Client Services
Document Control
Real Estate Agent
Real Estate Broker
Property Lawyer
Legal Counsel
Property Manager
Real Estate Transaction Coordinator
Closing Specialist
Title Officer
Insurance Underwriter
Mortgage Specialist
Real Estate Administrator
Contract Manager
Risk Management Officer
Real Estate Operations Manager
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