A Sale Agreement With Possession is used in Australian property transactions where the purchaser requires access to the property before the sale settlement is completed. This arrangement is common in situations where there's a delayed settlement period, or where the purchaser needs to commence operations or occupancy before the transfer of title. The agreement must carefully balance the interests of both parties during the interim period between possession and settlement, addressing critical aspects such as risk, insurance, maintenance responsibilities, and default scenarios. It requires careful consideration of Australian property law requirements, both at federal and state levels, and typically includes comprehensive provisions to protect both the vendor's ownership rights and the purchaser's possession rights during the interim period. This document is particularly important in commercial transactions where business continuity is essential or in residential transactions where early occupation is required due to specific circumstances.

1. Parties: Identification and details of the vendor and purchaser

2. Background: Context of the transaction and purpose of the agreement

3. Definitions and Interpretation: Defined terms and rules for interpreting the agreement

4. Sale and Purchase: Core terms of the sale including property description and purchase price

5. Payment Terms: Payment structure, deposit, and settlement arrangements

6. Possession Terms: Terms and conditions of pre-settlement possession

7. Property Condition: State of the property and any inclusions/exclusions

8. Vendor's Obligations: Vendor's commitments and responsibilities up to settlement

9. Purchaser's Obligations: Purchaser's commitments and responsibilities during possession and up to settlement

10. Insurance and Risk: Insurance requirements and risk allocation during possession period

11. Default and Termination: Consequences of default and termination rights

12. Settlement: Settlement process and requirements

13. GST: GST treatment of the transaction

14. Costs and Stamp Duty: Allocation of transaction costs and stamp duty obligations

15. General Provisions: Standard contract clauses including notices, governing law, etc.

16. Execution: Execution blocks and attestation