If the home seller has to stay in the house for a long time, it is preferable that the buyer and a rental contract be the subject of a rental contract by the buyer and seller. Similarly, the “Post Possession” option is usually used for a short period of time, for example. B a few days or weeks, no longer periods. In addition, the contract should cover a deposit and a rent payment for the period of detention. If the seller remains in possession of a co-op apartment after closing, it is advisable to confirm that the co-op company is not obliged to authorize the seller`s occupation of the marketing (this may be considered a subletting and contrary to the rules of cooperation). In addition, all fees that are imposed by the co-op as part of the occupancy of the closing post must be paid by the seller of the lease term. Often the seller tries to stay in the property until he or she can close with the purchase of another property and then move out. Assuming this is the case, the seller will want to indicate a rental period corresponding to the estimated time for the closure of the new house, with an automatic renewal fee for certain successive periods. The buyer will probably prefer a non-renewable rental period for a relatively short period of time, provided that the buyer plans to withdraw it if the seller leaves and wants to be able to plan ahead. The buyer should require that the agreement declare that any extension requires the buyer`s written consent, that no termination is necessary and that the buyer has the right to terminate the termination date, only with the buyer`s written consent, and that the buyer is not required to send a termination. However, if the buyer has acquired the property as an installation, he has much greater flexibility in the duration of the rental and can look forward to having a tenant immediately after closing.

In the last edition, I have an article on pre-possession occupancy arrangements, agreements between a seller and the buyer of real estate allows the buyer to occupy the property before closing. I have found that one of the Department of Real Estate`s Commissioner`s Rules expressly requires that land licensees not authorize the occupation of a property by a non-owner without obtaining the owner`s permission or express instruction, and also advises his client to seek advice on the associated risks. See A.C. R4-28-1101 (J – K). This article is not dealt with, but also provided for by Rule R4-28-1101, these are repopulation agreements.