Real Estate Dictionary:

Occupancy Agreement, Limited

One that allows a prospective buyer to obtain Possession under a temporary arrangement, usually prior to Closing.
Example: Abel, the seller, signs a limited occupancy agreement with Baker that allows Baker possession of the property at rent of $25 per day for up to 30 days or the day of closing, whichever occurs first.

 
 
 

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Real Estate Dictionary. Dictionary of Real Estate Terms. Copyright © 2004 by Barron's Educational Series, Inc. All rights reserved.  Read more

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