vurbros.blogg.se - What does occupation mean

Occupation – physically moving into the property and occupying itīelow is an example which serves to clearly explain the principle of “possession”.

Possession – the possessor now becomes liable for maintenance and repair of the property, runs risk of accidental damage or loss to the property and is also entitled to the benefits of the property such as rental income.

The actual transfer – transfer of ownership is registered in the deed’s office.

3 different stages of transfer of ownership However, it’s extremely important to remember that there are 3 distinct stages or events that occur during a transfer of property, each having important legal implications.

With respect to property, there is a distinct difference between occupation and possession which is often misunderstood.įurthermore, possession and formal transfer of ownership are often thought to be the same thing.