Vacant Possession

vacant possession
In most residential real estate purchase contract, the seller has to provide vacant possession to the buyer at 12 noon. The seller should ensure that all his/her moveable belongings are removed from the premise by 12 noon. Otherwise, the buyer has the right to claim reasonable costs against the seller for any out of pocket expenses in removing those items.

If a buyer can’t obtain vacant possession and as a result he/she has to incur further expenses such as extra moving costs, hotel or alternative accommodation expenses, the buyer should keep all the receipts as proof of expenses. All costs have to be reasonable as the buyer has a duty to mitigate his or her damages. For instances, checking into Banff Spring hotel or an expensive hotel may not be an option as the buyer may not be able to claim the full amount.

You may contact me for further legal advice.

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Note: All postings in this blog are for information only, please consult a lawyer for proper legal advice.

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