Why Free Temporary Occupancy Agreement Templates are so vital
What exactly is a free temporary occupancy agreement?
The temporary occupancy agreement template is an occupancy certificate that is given to the residents or the owners but the only difference is that it is valid for a limited span of time. It is given to the owner prior to the legal certificate so that he can enter and take occupancy in the property.
They expire after a term of 90 days. The temporary occupancy agreement is usually needed when there is construction of a new building or else if an industrial usage building is converted into a residential building.
As soon as the owner resides in the property with a temporary occupancy agreement, it is vital for the contractor to make the architects aware about the agreement. During occupancy, damages to the property are imminent. So the contractor and the owner need to take all this into consideration. After the completion of all the work, the temporary certificate is dissolved and proper occupancy certificate is given to the owner after the payment process.
Who needs the occupancy certificate
Any building that is occupied as a commercial building should produce an occupancy certificate. If that building is under construction then the free temporary occupancy agreement template comes into consideration. When there is a change in ownership within the existing family, then a new occupancy certificate is not necessary. The new owner can just fill up a form in order to update the existing occupancy certificate for the name change in the same.