Vacant Possession

What if there is a tenant in the property at settlement?

The standard REIQ Contract terms provide that if the Tenancies section of the Contract is not completed and the tenancy is not noted in the Contract then the Seller must provide the Buyer with vacant possession of the property at settlement.

TIP: Where there is a tenant in the property that is to remain in the property following settlement it is extremely important that the tenancy is noted in the Contract.

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(ALSO READ:)
Buyers Rights to Access Property being Purchased
Buyers Guide
Sellers Guide

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Andrew Francey

B.Bus, GCAF, GAICD

Chief Operating Officer

Andrew has over two decades experience in high growth fast moving consumer goods, agribusiness and professional services. Supporting the Ownit team to deliver on client expectations, and implementing processes to scale the organisation, is a key focus for Andrew.

Andrew is a C-Suite leader with Chairman and Board experience.  He has formal qualifications in Business, Applied Finance and AICD Company Directors Course.

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