Possession or Occupancy Sample Clauses
The Possession or Occupancy clause defines when and under what conditions a party is entitled to take physical control or use of a property. Typically, this clause specifies the exact date or event that triggers the right to occupy, such as upon closing of a sale or commencement of a lease, and may outline any requirements or restrictions during the transition period. Its core function is to clearly establish the moment legal possession transfers, thereby preventing disputes over access, responsibility, and liability between the parties involved.
Possession or Occupancy. In order to achieve the intended purpose of the Project as stated in Section 1(a) of this Article XIII, the Condominiums are intended to be owned and occupied as primary residences by qualified persons, except as set forth below.