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You are likely to find that the contract for the sale of commercial property incorporates the Standard Commercial Property Conditions (Second Edition) and specifies, again, that the property is sold âwith vacant possessionâ or subject to a specific lease.f you seek to provide vacant possession then you must ensure that you pass the two fold test mentioned above and in particular: 1  You must leave the property and ensure that your family/employees leave and, indeed, anyone else-such as trespassers. 2  Take all your goods with you.
Ownership may be corporeal (title to a tangible object such as a house) or incorporeal (title to an intangible object, such as a copyright, or a right to recover debt).Possession (as in tenancy) does not necessarily mean ownership because it does not automatically transfer title.he ownership of the company changed hands once the gentleman acquired 51% of the company and new policies were implemented. 8 people found this helpful. Ownership of a vehicle and a home is an important determining factor when gauging a customer's economic standing and willingness to buy other things.