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Vacant Possession

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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