Typically, these types of agreements require a bond withheld by the title company from the seller`s funds. This is a way for the buyer to be protected and ensure that the seller has not damaged the property during the rental period. After a final receipt at the end of the rent-back period, provided that everything goes well, the buyer informs the title company to return the deposit to the sellers. In the event of a problem during the final inspection, the buyer and the seller must agree on how to distribute the deposit. In any case, if a buyer has declared itself prematurely, the parties should recall in writing their agreement: (i) What will happen if the conclusion is further delayed? (ii) Can the tenant modify the property? (iii) Is there a damage deposit? (iv) Who is responsible for insurance against bodily injury, unlawful death, damage to the property itself and damage to the buyer`s personal property during the early occupancy period? These are just some of the issues that the early occupation agreement should address. Then, after the granting of an early occupation, there is the problem when there is a necessity that prevents the buyer from concluding: financing is never allowed, the buyer dies, a divorce, the business goes bankrupt or there is a dispute between business partners. Each of these things may lead the buyer not to conclude in accordance with the contract, whether or not there is a contractual obligation to conclude. What will happen? A buyer may want early occupancy for a large number of reasons. For both commercial and private buyers, they often want an occupation before their financing can be formally authorized. This may be because a commercial buyer wants to transfer or “riger” their manufacturing equipment into a property until a set date.

Often, commercial and private buyers want to modify the property significantly, for example.B. Move the walls, redo a kitchen or change the painting. Often, we encounter situations in which a buyer wishes to obtain a property before the conclusion (i.e. the auction of the purchase price) as part of a sales contract, whether commercial or private. Even something less extreme than an entire burning house can raise some tricky issues in a post-colony occupation situation. In short, an early occupation is one of those things that may seem like a good idea at the time, but in hindsight, it was reckless, even nightmarish. It should only be carried out with open eyes and with great caution on the part of both parties, taking into account the “and if” if the conclusion has never taken place, taking into account insurance issues, taking into account potential material damage and the written entry of all aspects of the agreement. These types of businesses, called reoccupation agreements (sometimes called rent-back agreements), are agreements in which the buyer of a property agrees to allow the seller of the property to stay in the house beyond the invoice date.

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