Tag: insurance

  • Possession-And-Occupation

    May 28 2018

    Risky To Confuse Occupation and Possession

    Many home buyers are unaware of the legal difference between the terms ‘occupation’ and ‘possession’ of a property as used in sale agreements. Occupation is the date on which the purchaser physically moves into the property. If the purchaser takes occupation before transfer, he is usually required to pay occupational interest (similar to ‘rental’) to…

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