Continued Occupancy of a Property Clause

(Ontario)

From time to time, it’s necessary to permit the Seller to continue to stay in occupation of the property immediately following closing.

Consider dealing with the following issues:

“The parties agree that notwithstanding the completion of this transaction on 26 September 26, 2022, the Seller shall have the right to occupy the premises until 6:00 pm on 27 September 2022, at which time, vacant possession of the property shall be delivered to the Buyer.

The Seller acknowledges and agrees:

1) to continue all insurance coverage upon the premises as provided herein,

2) agrees to assume all risks and liabilities for damages which may be sustained during such period of occupation, and

3) the Seller agrees to save and hold harmless the Buyer from any claims, damages, and costs howsoever arising during such period, and

4) that the Buyer shall not be responsible for any damages,

Each of these issue may be dealt with in greater detail, if required.

Brian Madigan LL.B., Broker

www.OntarioRealEstateSource.com

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