Real Estate. This licence to occupy is for a residential purchase where the licensee (purchaser) has committed to purchase the property but doesn't want to wait and is prepared to occupy and pay a weekly fee until settlement in about six weeks. The licensor (vendor) is happy to do this as it commits him/her to nothing and (s)he can get the licence fee in lieu of rent. It grants licence to occupy for a period to settlement in return for a weekly licence fee and certain responsibilities if it fails to settle but does not grant leasehold rights or quiet enjoyment.
L-4038Licenc_0.docLicence to occupy where the licensee (purchaser) has committed to purchase the property but doesn't want to wait and is prepared to occupy and pay a weekly fee until settlement in about six weeks.
