A requirement to give 'vacant possession'of premises is common in the property world. For instance, a tenant might be required to yield up vacant possession at its lease end or when exercising a break option. Additionally, the hypothetical circumstances assumed at rentKing, Vivien...
Immediate:The buyer can have the property as quickly as their lawyer can do up the documents, which could be in as little as a few days. This typically means that the house is vacant and no one needs time to pack up and move out – the buyer can have it right away. There does nee...
Hostile Possession is a legal term used to describe a situation where a person takes possession of a real property without the consent of the true owner. Historically, the concept of hostile possession can be traced back to ancient Roman law, which recognized the rights of those who openly occ...
Under a lease, the renter is considered a tenant and given exclusive possession for the time agreed to by both parties, otherwise known as the term of the lease. The term will outline what you’re allowed to do in the space, such as modifications, hours of operation, and other key ...
But with so many different dates thrown at you: TOP date, CSC date, Vacant Possession Date… How do you know when exactly you’re officially allowed to move in? Let’s first define these terms: TheCertificate of Statutory Completion (CSC)is the permit that’s granted once all of the bui...
Still, a squatter has a few rights, especially in adverse possession or the act of occupying a vacant property. In many states, the property owner has to serve the squatter an eviction notice and go through the lawful process of eviction to get rid of squatters. ...
Legally speaking, the lease is not broken untilyou have given back vacant possession of the rental property– i.e. you've completely moved out. Once you have broken your lease you'll be a homeowner! No more paying rent! What is the difference between lease and license?
The front page of the 2005 edition of the Contract for the Sale of Land (Standard Contract) deals with whether or not vacant possession will be provided on settlement. The Contract is either marked “vacant possession” or “subject to existing tenancy”. If no box is marked, then vacant ...
Bona vacantia - a Latin term meaning "vacant goods." Similar to escheat, it refers to property or assets that have no legal owner and revert to the state. Unclaimed property - property that is not claimed by its owner, such as abandoned bank accounts or lost inheritances, may escheat ...
Bankruptcy is always a possibility Opening An aperture or hole opening into a bodily cavity; The orifice into the aorta from the lower left chamber of the heart Opening A vacant or unobstructed space that is man-made; They left a small opening for the cat at the bottom of the door Opening...