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11. post-occupancy agreements in florida Occasionally, the date on which buyer and seller have agreed to close on may not exactly align with the desired timeline of the parties. Severalty - The singular terms Buyer and Seller are used herein collectively to include, jointly and severalty each of the undersigned in the singular or plural. A use and occupancy agreement, however, is not without its risks and downside, which I will discuss below. This will enable the buyers to complete their move, move into the house, but before the actual closing. If not Understood, Seek Competent Advice. Seller Shall46 Shall Not maintain and pay the cost of (1) a Seller’s “Renters Policy” covering Seller’s personal 47 property on the Property and (2) Shall Shall Not maintain and pay the cost of adequate liability insurance in favor of 48 both Seller and Buyer and supply to Buyer evidence of such insurance. Additional Terms - The Buyer and Seller further agree as follows (if applicable): 10. While this certainly makes it easier for all participants, there are occasions when it is advantageous for the seller, and perhaps even the buyer, for the seller to occupy the property after the sale closes. THE PARTIES AGREE THAT THIS POST-CLOSING OCCUPANCY ARRANGEMENT IS NOT A LEASE AND THAT THE OCCUPANCY FEES ARE NOT RENT, BUT RATHER A TEMPORARY RIGHT OF USE FOR CONSIDERATION, TO ACCOMMODATE THE SELLER. Seller shall indemnify Buyer for any liability incurred by Seller as a result of said post-closing occupancy. THIS AGREEMENT . period in favor of [himself/herself], members of [his/her] family and household. ... post-closing address of the parties at paragraph , or, if none is listed, to the. attorney for such party, or, if none, to the address for such party recited in the ... said use and occupancy during that. The sellers are willing to let the Tom, Mary and family move into the home prior to the closing under a Use and Occupancy Agreement. Use and Occupancy Agreement v. 3.1 9. The PURCHASER agrees to maintain liability insurance on the Premises and to In many instances, for the seller to occupy after closing and pay rent on a daily basis for some short period is an excellent practice. Most of the time, the buyer wants the seller of the property to conclude. This is a Legally Binding Agreement. Rental shall be paid in advance. an agreement regarding which utilities should be put in Buyer's name before Closing, but even if the utilities remain in Seller's name, Buyer shall pay to Seller the amount due for the utilities consumed and the assessments that accrue on the Property during the occupancy. POST-CLOSING OCCUPANCY AGREEMENT Page 2 of 2 11. 1. POST-CLOSING POSSESSION AGREEMENT. Governing Law - This Agreement shall be governed by and construed in accordance with the laws closing are disbursed on the purchase of the Property. Post Settlement Occupancy Agreement. Usually, buyers wish to occupy the property right after closing. 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