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Possession Dates - Legal Real Estate Questions


Possession Dates 


Q - I had a deal where the lawyer who represented the Buyer was adamant that the Buyer owned the home after completion and was entitled to the keys and access to the home regardless of the possession date.  The development does not allow access until the house is registered but is not concerned with the possession date.  This left me wondering what the possession date was for if we don't need to abide by it.  In your opinion, can we give the keys over before the possession time and day?

 

A - I think it is really two different things.  The buyer is entitled to keys and access to the property on completion but the seller is entitled to possession of the property until the agreed upon possession date.

 

The buyer's access would have to be reasonably exercised until actual possession changes hands much as a landlord would have to exercise access.

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