Conversely, if the buyer authorizes the seller to occupy the property after the billing, the buyer is the owner of the property, but not the occupant and the seller is the occupier, but not the owner. Each party must ensure that its insurance policies provide appropriate insurance coverage for their status, both before and after the count. Whether you represent the buyer or seller if you are involved in a real estate sale transaction in which the buyer will occupy the property before the count or the seller will occupy the property after the count, it is important to ensure that the conditions of occupancy are properly documented. Sometimes the parties and real estate agents involved in such transactions do not focus on the fact that an agreement on the occupancy of the property by the buyer before colonization or occupation of the property by the seller after the count is essentially a lease agreement between the parties. Therefore, the occupancy agreement should cover the same fundamental issues that are addressed in a duly developed lease. Finally, make sure that all appropriate parties, both the buyer and the seller, sign the occupancy agreement. This list is not exhaustive. A full list can be found in the Home Office`s guidelines on the eligibility of the EU billing system. It is also important to ensure that buyers and sellers have the right type of hazard and liability insurance for the property during occupancy.
Who bears the risk of loss if the property is damaged or destroyed by fire or other disaster during the period of occupation? The buyer who is taken into possession before the count cannot rely on the owner`s policy that begins on the day of the billing. The buyer is not yet the owner of the house. Much of this will depend on the final nature of the regime between the UK and the EU and the agreed monitoring agreements, but your rights will be part of British law. The withdrawal agreement will form the basis of all challenges and events in the region. We will update this section when more information becomes available.