OCCUPATION AND HANDOVER OF KEYS
OCCUPATION AND HANDOVER OF KEYS
Should an addendum be drafted to the sale agreement in terms whereof the date of occupation is moved from date of registration to an earlier date, the keys to the property should not be handed to the purchaser prior to the signing of the addendum by both parties. The reason for this is that it is important to firstly reach an agreement regarding the terms of occupation, for example the specific date of occupation, the amount of the occupational rent, whether the occupational rent is payable directly to the seller or the Transferring Attorneys etc. The keys can therefore not be handed to the purchaser prior to the signature of the addendum, since the purchaser is considered to have occupation of the property from the date on which the keys are handed over. This may cause unhappyness between the parties, especially with regards to the calculation of the pro rata occupational rent. Once the addendum has been signed, the Transferring Attorneys must firstly confirm whether the occupational rent has been paid, where after the keys may be handed to the purchaser.