Legal Question in Real Estate Law in Massachusetts
In a Real Estate P&S Agreement based on the paragraph below, when is the "day of performance"? Is it the day they sign the P&S Agreement or the day that they actually close and pass papers?
Water and sewer use charges, and taxes for the then current fiscal year, shall be apportioned and fuel value shall be adjusted, as of the day of performance of this agreement and the net amount thereof shall be added to or deducted from, as the case may be, the purchase price payable by the BUYER at the time of delivery of the deed..
Asked on 4/03/12, 5:32 pm
2 Answers from Attorneys
Alan Pransky
Law Office of Alan J. Pransky
Day of performance means the day of the closing. The day that the money is paid and the deed is recorded.
Answered on 4/03/12, 5:50 pm
It means the day you close on the purchase and sale. The money is paid and the deed recorded.
Answered on 4/04/12, 8:11 am
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