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Licence Agreement To Occupy Property Before Completion Of Purchase
"I need a Licence Agreement To Occupy Property Before Completion Of Purchase for a residential apartment in Hong Kong, where the buyer needs to move in on March 1, 2025, but completion won't occur until May 15, 2025, due to mortgage processing delays."
1. Parties: Identification of the Licensor (seller) and Licensee (buyer)
2. Background: Context of the agreement, including reference to the sale and purchase agreement
3. Definitions: Key terms used throughout the agreement
4. Grant of Licence: Terms of the temporary occupation permission
5. Duration: Period of occupation until completion
6. Licence Fee: Amount payable for occupation and payment terms
7. Licensee's Obligations: Responsibilities of the occupier during the licence period
8. Licensor's Obligations: Responsibilities of the property owner during the licence period
9. Utilities and Outgoings: Responsibility for bills and expenses during occupation
10. Insurance: Required insurance coverage during the licence period
11. Termination: Circumstances and process for ending the licence
12. Consequences of Termination: Rights and obligations upon licence end
13. General Provisions: Standard contractual terms including notices, amendments, governing law
1. Security Deposit: Required when additional security beyond the purchase deposit is needed
2. Maintenance and Repairs: Detailed provisions for older properties or those requiring specific maintenance
3. Building Rules: For properties in managed buildings or estates
4. Alterations: If the licensee wishes to make changes to the property during occupation
5. Access Rights: For properties requiring shared access or where seller needs ongoing access
6. Special Conditions: For unique property features or circumstances
7. Break Clause: When early termination options are required
1. Schedule 1 - Property Details: Detailed description of the property including address and boundaries
2. Schedule 2 - Inventory: List of furniture and items included in the licence
3. Schedule 3 - Condition Report: Documentation of property condition at start of occupation
4. Schedule 4 - House Rules: Building or estate rules if applicable
5. Schedule 5 - Payment Schedule: Detailed breakdown of licence fees and payment dates
6. Appendix A - Sale and Purchase Agreement: Copy or key terms of the underlying sale agreement
7. Appendix B - Property Plans: Floor plans and relevant property drawings
Authors
Building
Building Management
Business Day
Completion
Completion Date
Condition Report
Deposit
Effective Date
Fixtures and Fittings
Force Majeure Event
Hong Kong
Insurance Requirements
Inventory
Licence
Licence Fee
Licence Period
Licensee
Licensor
Occupation Date
Outgoings
Parties
Payment Date
Permitted Use
Property
Purchase Price
Regulations
Sale and Purchase Agreement
Security Deposit
Services
Term
Termination Date
Utilities
Working Hours
Duration
Payment Terms
Property Access
Insurance
Property Maintenance
Utilities and Outgoings
Permitted Use
Alterations
Building Rules
Health and Safety
Assignment and Subletting
Force Majeure
Termination
Default
Indemnification
Property Condition
Representations and Warranties
Risk Allocation
Inspection Rights
Compliance with Laws
Building Management
Security
Notices
Dispute Resolution
Governing Law
Entire Agreement
Severability
Further Assurance
Costs
Residential Real Estate
Commercial Real Estate
Property Development
Real Estate Investment
Property Management
Legal Services
Banking and Finance
Property Insurance
Legal
Real Estate
Property Management
Compliance
Risk Management
Operations
Sales
Contract Administration
Property Services
Transaction Support
Property Lawyer
Real Estate Agent
Property Manager
Conveyancing Manager
Legal Counsel
Property Transaction Officer
Compliance Officer
Real Estate Director
Property Investment Manager
Sales Manager
Contract Administrator
Risk Manager
Property Operations Manager
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