What is the difference between possession and occupation?
Occupation is the right to use and enjoy the property. Possession is associated with legal risk in the property and the right to enjoy the benefits associated with the property. The purchaser should insure the property from date of possession. A pool pump is working on the date of sale and breaks just before transfer or a geyser bursts after sale but prior to transfer. The property is at the seller’s risk until possession passes which is most often on transfer. • More from Blaauwberg Online – Property Legal – Buchanan Boyes Attorney…
