Washington State Real Estate Practice Exam 2025 - Free Real Estate Practice Questions and Study Guide

The correct answer is pre-settlement possession. This term specifically refers to the arrangement where a buyer is allowed to take possession of a property before the official closing date. This can be beneficial for both the buyer, who may need to move in sooner than the closing, and the seller, who might want to expedite the transition of property ownership.

In Washington State, as is common in many jurisdictions, pre-settlement possession is typically documented through a written agreement that outlines the terms of the arrangement, including responsibilities for utilities, maintenance, and insurance during the period before the formal closing. This protects both parties and ensures there is clarity on legal ownership.

The other options, while related to property occupancy and ownership, do not accurately describe this specific scenario. Interim occupancy usually refers to temporary occupancy arrangements that might not necessarily involve a purchase. A possessory interest signifies an ownership right but does not imply it specifically arises before closing. A rent-to-own agreement encompasses a lease agreement with an option to purchase but is not specific to possession before closing. Thus, pre-settlement possession is the most precise term for this situation.