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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.
Most insureds are not aware of the restrictions in their commercial property insurance when a building is unoccupied or vacant. One of the more common coverage forms includes this provision: âVacancyâ. When this policy is issued to the owner or general lessee of a building, building means the entire building.