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Signing Date, Occupancy Date, and Adjustment Date – What’s the Difference?


When you sign your promise to purchase, three critical dates will be determined: The signing date, the occupancy date, and the adjustment date.


The signing date, which is also sometimes referred to as the “notary date”, is the date at which you sign your deed of sale with the Notary. This is the day in which you will legally become owner of the property.


The occupancy date is the date at which you have access to the property you are purchasing. On occasion, the occupancy date is later than the signing date. This means that the vendor will continue to occupy the property for a few more days after you have officially become owner. It is possible for the vendor to obtain an extended occupancy date, for example, for a period of a month or two (or more) after you become owner of the property. In this case, your promise to purchase normally accounts for compensation to be paid by the vendor in favour of the purchaser. It is important to note that your mortgage begins once you become owner of the property, not once you begin occupying it, which is why a compensation may be arranged between the parties if an extended occupancy date is required.


The adjustment date is the date at which the purchaser becomes responsible for ownership costs, such as the payment of taxes and/or condo fees. The adjustment date is either the same as the signing date or the occupancy date, depending on the agreement reached between the parties.


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