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What is Occupational Rental?

If you move into your new property before it has been legally transferred into your name, you will be liable for a rental known as Occupational Rental. The monthly amount will be specified in the Offer to Purchase.

Most buyers do not want to occupy a property before it is legally theirs, nor do sellers want occupation of their premises before it is no longer theirs. It is common practice to occupy the property once the new owner has taken transfer.

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