Possession Letter Format in Word

A possession letter records the day a buyer physically took over a property: which keys, which meter readings, what condition it was in, and what was still outstanding. Banks and housing societies ask for it, and it fixes the date from which maintenance, property tax and utility bills become the buyer's.

It works for both cases agents see — a builder handing over a new flat, and a seller handing over on a resale — with a section for each.

The most useful part is the snag list. Writing the known defects into the letter, with a date to fix them, is what turns "we'll look into it" into an obligation.

What is in the file

• Parties, property and the document under which possession is given (sale deed or agreement for sale)
• Date and time of possession, and every key, card and remote handed over
• Meter readings — electricity, water, gas — and the date bills transfer
• Occupancy certificate and other documents handed over
• A snag list with the date each item will be fixed
• The buyer's acknowledgement, signed "subject to the snag list"

Sign "subject to the snag list"

A buyer who signs an unqualified "received in good condition" has given up the easiest argument they had. Walk the flat first, list what is wrong, and sign subject to that list.

Record the meter readings

Photograph each meter and write the reading into the letter. It settles who owes the last bill without a phone call.

Ask for the occupancy certificate

For a new building, note in the letter whether the occupancy (or completion) certificate was handed over. It affects utility connections, loans and resale, and it is far easier to ask for at handover than afterwards.

Questions

This is a working template, not legal, tax or financial advice. Requirements differ by state and by transaction — have a lawyer and a chartered accountant confirm anything that matters before you or a client rely on it.