Contracts
Vermont's 'possession date' in a purchase contract specifies:
AWhen the title search must be completed
BWhen the buyer takes physical possession of the property, which may differ from the closing date✓ Correct
CWhen the listing agent loses their co-broker status
DWhen the earnest money is released
Explanation
The possession date is when the buyer is entitled to take physical possession of the property. It may coincide with closing or be different — for example, the seller may rent back the property for a few days after closing.
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