New Mexico Use and Occupancy Agreement when Seller plans to Remain
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Description
A use and occupancy agreement - sometimes referred to as a U&O - is a temporary agreement between the buyer and the seller that allows one party the right to use and occupy the property for a set period of time. It's usually put in place if the buyer needs to move into the property before ownership can be transferred, however can be used when a seller is to remain in the property for a specific term at a specific rate.
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