Property Ownership
In Tennessee, a 'use and occupancy' agreement allows a seller to:
AAvoid paying capital gains taxes
BRemain in the property after closing for a specified period, typically paying rent to the new owner✓ Correct
CSell the property without a real estate license
DAvoid the property disclosure requirements
Explanation
A use and occupancy (post-closing occupancy) agreement allows the seller to remain in the property for a period after closing, typically as a tenant paying per diem rent to the buyer/new owner.
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