Why do I need an Use and Occupancy Agreement for My Residential Closing?
A Use and Occupancy Agreement protects one party’s interest in real property, and the other party’s right to live in said property that they don’t necessarily own. A Use and Occupancy Agreement would be entered into by two or more parties who do not reside together. Potential scenarios include a potential buyer for a property who moves in prior to a closing date, or a couple that perhaps parted ways, and now only one of them lives in the house and the other person owns it.
In either scenario, the agreement would protect both the property owner’s rights, as well as the person presently residing in the house. There are a variety of other circumstances where a use and occupancy agreement may be necessary, so if you are unsure as to whether or not you need one, you may want to seek the advice of an attorney.
Why Should I Contact Wolf & Shore Law Group to Draft My Use and Occupancy Agreement?
Have you ever argued with a woman? That’s our slogan for a reason. We are on your side, and we advocate for you zealously. We have encountered plenty of different scenarios when it comes to residential closings, or parties splitting up and dividing a piece of property, and would be happy to draft your use and occupancy agreement should it be necessary. Learn more about our CT Law Group and how we can help you with your closing process, no matter how in depth, and get started on the process now by contacting us at (203) 745-3151 or email@example.com for a confidential consultation!