Completion is the legal transfer/funding date; possession is when the buyer is entitled to occupy the property. They may be the same day or different dates depending on the contract.

Completion date

Funds and transfer documents are handled through the buyer’s and seller’s legal professionals. The buyer generally becomes the registered owner after the transaction completes.

Possession date

The contract sets the time/date the buyer can take possession. Keys are typically released according to the contractual possession arrangement.

Adjustment date

Property taxes, strata fees and other items may be prorated through the statement of adjustments.

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Last reviewed: August 24, 2026

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