Intent to Occupy Sample Clauses

The "Intent to Occupy" clause establishes that the buyer or tenant affirms their plan to personally reside in or use the property as their primary place of living. In practice, this clause may require the buyer to certify their intent in writing, and it often applies to transactions where certain benefits, such as favorable loan terms or regulatory approvals, depend on owner-occupancy. Its core function is to ensure transparency and compliance with lender or legal requirements, preventing misrepresentation and potential fraud regarding the property's intended use.