All Topics / Help Needed! / License Agreement Dangers

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  • Profile photo of LeeLee
    Participant
    @anz1984
    Join Date: 2015
    Post Count: 1

    Hi guys, we have sold a townhouse off the plan. The buyers are keen to move in early, meaning before subdivision and settlement. My builder mentioned once the Occupancy Permit is approved, they can move in which should be approx 4-5 weeks from now. Stupid me promised them it’s fine as our builder delayed the project for a long time.

    Obviously License Agreement and insurance will be organized if they want to move in early. I was just thinking of the dangers of doing this as they are incredibly fussy people.

    Any dangers that I should be aware of? My solicitor is not exactly helpful and looked as confused as me. Thanks

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213

    You won’t legally own the property until settlement.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

Viewing 2 posts - 1 through 2 (of 2 total)

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