This normally refers to a licence granted to the purchaser to take possession
of the property after exchange of contracts but before completion. Usually this
will be agreed in order that certain specified work may be carried out –
to meet a building society undertaking or whatever: it would be a breach of such
a licence to move in early and take full occupation. Such an arrangement would
be subject to agreement between the two legal advisers involved, and be granted
‘without prejudice’ on the seller’s
side.