Use this post-possession agreement template to create a legal document that lays out the terms for your post-possession caretaking activities. This form is designed for use in a situation where a seller has sold a property and needs to continue living in it until they move into their new home.
Keep in mind that this template is a starting point and can be customized to fit the specific needs of your situation.
This Post Possession Agreement (herein, the "Agreement") is made and entered into by and between:
[Seller.FirstName] [Seller.LastName] (herein, the "Seller"), with a mailing address of [Seller.StreetAddress] [Seller.City] , [Seller.State] [Seller.PostalCode] , and [Buyer.FirstName] [Buyer.LastName] (herein, the "Buyer"), with a mailing address of [Buyer.StreetAddress] [Buyer.City] , [Buyer.State] [Buyer.PostalCode] , each a party, collectively referred to herein as the "Parties," on [Document.CreatedDate] .
The Buyer has purchased the property (Herein, the "Premises") located at [Seller.StreetAddress] [Seller.City] , [Seller.State] [Seller.PostalCode] from the Seller. The Property consists of (insert number) bedrooms, (insert number) bathrooms, and approximately (insert square footage) of living space. The Seller shall have the right to use and occupy the Property during the term of this Agreement.
The Buyer and Seller agree that the Property is in good condition and fit for the use intended by the parties. The Seller warrants no known damage to the Property, which may cause any alterations or repairs necessary to correct such damage to be charged to the Buyer.
Be aware of any deadlines or important dates outlined in the agreement, such as the date on which the seller is expected to vacate the property. Failing to meet these deadlines can have serious consequences.
This Agreement shall be in effect for a term of (insert number) months, starting on (date) and ending on (date) (herein, the "Post-Possession Period").
The Seller shall vacate the Property on or before the end of the Post-Possession Period.