Exclusive Occupancy Agreements

Shared Ownership Occupancy Agreements expire 20 years from the date when the sharing owner took entry to the property unless terminated earlier.

If the Agreement is not terminated early then at the end of the 20 year period the options available under the Agreement are:

1. The sharing owner has the option to purchase the Association’s share;
2. The Association has the option of purchasing the sharing owner’s share;
3. The sharing owner and the Association can jointly sell the whole property.

A further option, which is not stated in the Occupancy Agreement, is for a new Occupancy Agreement to be entered into.

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