Fillable Printable Pre-Closing Possession License Agreement Form

Pre-Closing Possession License Agreement Form

Pre-Closing Possession License Agreement

This agreement is made this day of , 200 , between

(hereafter called the “Seller”) and (hereafter called the “Purchaser”).

The “Purchaser” requests possession of the premises prior to the actual closing of

the title as defined in the contract between the parties, dated .

Notwithstanding the delivery of possession stated and anticipated under the

contract, the “Seller” in furtherance of the goals of the contract and in the spirit of

cooperation agrees to allow the “Purchaser” possession of the premises as of the

Day of , 20 .

This occupancy shall be only a license and shall in no way create a landlord-

tenant relationship.

“Purchaser” will pay “Seller” the sum of $ per day in advance prior to the

date of possession.

These payments will continue to be due through midnight of the day prior to the

actual closing.

Any surplus shall be credited to “Purchaser” at closing; any deficiency shall be

paid to “Seller” at closing as part of the purchase price.

“Purchaser” shall maintain fire insurance in the amount of $ .

“Purchaser”, subject to an inspection prior to possession, agrees to accept

premises in “as-is condition” and, if for any reason closing does not occur, shall restore

premises to their existing condition as of the date of possession.

“Purchaser” shall keep the premises in good condition. “Seller”, upon reasonable

notice, shall have unlimited access to inspect the premises and to perform maintenance or

necessary repairs neglected by the “Purchaser” and to deduct the amount expended from

the contract deposit.

The rights of “Purchaser” shall not be assignable.

The original contract, except as modified by this agreement, remains in full force

and effect.

___________________________________ ______________________________

Purchaser Seller

___________________________________ ______________________________

Purchaser Seller

DISTRIBUTED BY

The Judicial Title Insurance Agency LLC

800-281-TITLE (8485) FAX: 800-FAX-9396