Although it is not mandatory, the promise of sale is in practice an essential prerequisite for real estate sales.
In the context of a unilateral promise to sell (most common in this area), the parties define the subject of transaction and the terms and conditions of the sale to come.
unilateral promise of sale may be concluded either under private seal or by deed before a notary.
When established under private seal, the unilateral promise to sell, on pain of nullity, be stamped and registered within ten days from the date of acceptance of the offer by the recipient.
The unilateral promise to sell irrevocably commits the promisor (property owner) for sale to the recipient on time.
Otherwise, the latter is entitled to request the completion of the sale in court.
The beneficiary has the right to waive the acquisition, provided promising to abandon the amounts paid as compensation to capital at the signing of the promise.
Failing to obtain the recipient of the loans needed to finance this operation, the unilateral promise of sale will be canceled automatically without loss to the latter's capital allowance (Article 17 of Law No. ° 79-596 of 13 July 1979 became Article L. 312-16 of the Consumer Code).
regard to the content the unilateral promise to sell the new Article 46 of the Act of 10 July 1965 establishing the status of the condominium buildings built in the version resulting from Law of 18 December 1996 called "Loi Carrez" and applies from 19 June 1997, imposes a new obligation with respect to the sale of a lot or a fraction of a strata lot means a unilateral promise of sale must mention the size of the private portion of the lot or part lot, except If this lot is a cellar, garage, parking, or a lot or a portion of a lot area of less than 8 m2.
The absence of any mention of surface provides patients the promise of the possibility of rescission of the promise. To do this, it has a period of one month, which begin on the date of the deed evidencing the completion of the sale. It should however be noted that the signing of the deed evidencing the completion of the sale including the area entails the loss of right to initiate or continue an action for annulment of the promise based on the lack of mention of this area .
However, if an error occurs on the area mentioned in the document (the actual area should be lower by more than one-twentieth that expressed in the act), the purchaser has a claim for price reduction, which must be brought within one year after the deed evidencing the completion of the sale. It is therefore recommended for the vendor to perform measurements by a qualified professional, against which he can return in case of action of the purchaser (for this purpose, it must ensure that it is insured for its liability professional indemnity).
In addition, the SRU law of 13 December 2000 created a new protection system expanded and strengthened the customer not professional building for residential use new or old in Articles L. 271-1 and L. 271-2 of the Code of Construction and Housing.
Article L. 271-1 of the Code of the construction and housing and provides "for any private deed for the purpose of construction or acquisition of a building for residential use, subscription of shares intended to give the award into possession or ownership of residential property or selling property to build or lease Buyers Realty, the buyer can not retract professional within seven days from the day after the first presentation of the letter notifying him of the act. " This act, in this case unilateral promise of sale to which these provisions apply shall be notified to the purchaser by registered letter with return receipt requested or by any other means affording equivalent guarantees for the determination of the date of receipt or delivery. Within seven days from that date, the beneficiary of the promise may withdraw in the same manner.
Article L. 271-2 of the Code of Construction and Housing also provides that at the conclusion of an act referred to in Article L. 271-1 of the Code, "no person may receive non-professional buyer, directly or indirectly, any payment in any capacity or in any form whatsoever before the expiry of the withdrawal, unless specific legislation otherwise provided in particular for contracts relating to the acquisition or construction of a new building housing the underwriting shares entitling eligible for the award into possession or ownership of residential and preliminary contracts of sale of real property to build or lease real estate homeownership. "Therefore, it can no longer be required from beneficiary of the promise the payment of any sum to the signing of the act. However, nothing prohibits the parties to agree in the act of paying money to a date after the expiry of seven days and include a condition precedent to delivery of that sum as agreed.
An exception to this prohibition of payment before the deadline was set by law: when the deed is made through a professional, having been mandated to assist in the sale (a real estate agent for example), payment may be received from the Purchaser before the expiry of the time if done in the hands of a professional with a financial guarantee affcetée repayment of funds deposited. If then the purchaser exercises its option to withdraw, the professional fund holder must return them to him within twenty-one days from the date of this rétracatation.
Finally, Parliament has strengthened, also with the SRU law, control of asbestos in residential buildings. He created a new provision in the Code of Public Health, under which a statement indicating the presence or absence of materials and construction products containing asbestos must be attached to any unilateral promise of sale ( Article L. 1334-7 of the Code of Public Health). The implementation of this provision is conditional upon the issuance of an Order in Council of State, which will determine the modalities of establishment of the state, as well as buildings and built products and building materials involved.
Unilateral sales
subject to conditions precedent
BETWEEN THE UNDERSIGNED
M. .. (Full name) residing at
...
acting in his capacity as owner
hereinafter (e) "THE PROMISING"
one hand and
M. .. (Full name) residing at
...
hereinafter (e) (s) "BENEFICIARY"
other
IT WAS AGREED AS FOLLOWS:
hereby promise, by binding itself and forcing them jointly and severally the heirs and successors in any capacity whatsoever in any ordinary guarantees of fact and law the broadest in such matters,
to the recipient, who agrees, but without the commitment to acquire, and to his heirs, grantees, legatees, assignees or substituted potential
entitled to acquire, if it chooses, under the conditions below,
The building whose description follows,
As such property exists, extends to and has continued with its conveniences and appurtenances in the state where it will be the day of sale, and the beneficiary states well known for having first visited:
I - DESIGNATION
... (Make a description of the object of promise with its size, state identification register, and its situation on a day of promise and days of issuance, whether it is free from occupation or occupied by the promisor or is rented)
(added for a promise on property located in a building subject to condominium status set by the law of 10 July 1965)
accordance with Article 4-1 of Decree of 17 March 1967, as amended by the Decree No. 97-532 of 23 May 1997, the area of the lots covered by these provisions is as follows:
- Lot No ... Representative ... / ... thousandths ... m2
- lot ... Representative ... / ... thousandths ... m2
- ...
BUYER shall be guaranteed under the provisions above, regarding the above mentioned area.
II - ORIGIN OF PROPERTY. PROMISING
The owner is said to have acquired the building for Mr. .. (Full name) by deed drawn up by ... 23/03/2009 Before Me ..., notary ... (Address of the study) published on ... 23/03/2009 to mortgage office of ... in the volume ... and number ... .
III - ASBESTOS - TERMITES - LEAD
The search for asbestos was conducted and the assessment report prepared in accordance with Decree No. 96-97 of February 7, 1996 and Decree No. 2001-840 of September 13, 2001 is attached hereto.
(comment: if the research was not conducted, state and indicate which party will bear the costs of asbestos revealed later)
The building subject of this promise is not or an area contaminated or likely to be short term as defined in Article 3 of Law No. 99-471 of June 8, 1999, or in a sector referred to in Article L. 133-1 of the Code of Construction and Housing. The promise states that he is not aware of the presence of termites in the building subject of this promise.
(observation : If the building is located in an area contaminated or likely to be a parasitic state established less than three months before the date of the deed shall be annexed thereto)
The purpose of the building This promise is not more in an area at risk for lead exposure within the meaning of Article L. 32-5 of the Code of Public Health.
(observation: if the property is situated in an area at risk, a risk status of accessibility to lead established for less than one year must be attached to the promise of sale)
IV - PERIOD OF VALIDITY OF THIS PROMISE
This promise is agreed for a term expiring ... to ... hours.
absence by RECIPIENT, or its successors or assigns, to have, the latest date specified above, notified the promisor of his decision to acquire the property above described, raising the option as provided below, it will be stripped of his rights under this sales agreement, which will lapse automatically and without formality, but the effects of the clause relating to the compensation of immobilization following stipulation.
accordance with existing legislation, the BENEFICIARY however, has a delay seven days from the day after the first presentation of the notification letter sent this note by promising the RECIPIENT at home by himself elected by registered letter with return receipt or by any other means affording equivalent guarantees for the date of receipt or delivery to waive the benefit of this sales agreement. If it intends to exercise its right of withdrawal, the beneficiary must make notification PROMISING by registered letter with return receipt or by any other means affording equivalent guarantees for the date of receipt or delivery.
V - RULES OF THE LEVEE OPTION
If the beneficiary decides to purchase, it will serve notice to the promisor at home by himself elected by extrajudicial, registered mail with return receipt, or re- hand against receipt, and it will be reached no later than the final date for exercising the option, referred to above.
VI - PROPERTY - USE
The transfer of ownership, and taking possession, will be held on the day of the conclusion of the deed of sale which will be recorded in the study of Master ... notary at ... now designated for the drafting of that Act.
VII - FINDING THE SALE OF REAL
The sale, resulting from the exercise of option by the RECIPIENT shall be recorded by deed, not later than fifteen days after the option is exercised.
this end, summons to appear at such a day and that hour in the study of Master ... will be issued to the other party to the application of either party. If the party summoned
does not appear, nor anyone for it, a record deficiency will be reviewed at the request of the party summoned. This should then go to court for the purpose of having the mutation occurred by the mere fact of exercising the option by the BENEFICIARY.
costs and fees incurred by such failure will be borne by the defaulting party.
VIII - CONDITIONS OF SALE POSSIBLE
The sale, if done, will take place under the usual conditions and in such a matter of law, notably under the following conditions ... (Easements; taxes; nuisances insurance on the building, etc.).
IX - PRICE POSSIBLE FOR THE SALE
If realized, the sale will be subject to the price of ... (In words) Euro (€ ...), payable in cash (if added promise on property located in a building subject to condominium status and consists of several lots which are governed by Article 46 of the Act of July 10 1965 and others are excluded from the scope of these provisions) broken down as follows:
- ... euros for lot No. ... ;
- the rest, either ... euros for lot No. ... .
X - FUNDING OF THE POSSIBLE ACQUISITION (Article L. 312-1 and following of the Consumer Code)
RECIPIENT said that, if completion of the sale, it will pay the price of its own pocket or treated without recourse to any loan.
doing so, this promise is not subject to the condition precedent of obtaining a loan provided for in Article L. 312-16 of the Code of consumption then affixing below by the recipient of the statement referred to in Article L. 312-17 of the Consumer Code:
... (For a model form, refer to the "waiver of the benefit of Article L. 312-16 of the Consumer Code")
(variant)
RECIPIENT says, to fund the overall cost of its potential acquisition, it will be necessary to first obtain a loan or loans an amount at least equal to ... (Letters) Euro (€ ...).
Following this statement, this promise is subject to the condition precedent of obtaining the loan or loans will be solicited by the recipient and whose main features are:
... (Insert amount of personal contribution, the amount of loan sought, the nature of loans, their minimum duration, the maximum interest rate, the frequency of refunds, guarantees and securities earmarked for loans and the name and address of financial institution through which will be sought loans.
In order to obtain said one or more loans, the RECIPIENT agrees to provide, on first demand, financial organizations requested, all papers, documents and information necessary for the investigation of Dosier loans.
This suspensive condition shall be deemed completed upon the submission by the financial institutions or solicited bids from one or more regular correspondent to the characteristics mentioned above, and after the approval of the insurers or, in case of compulsory membership of a contract group insurance related to these loans.
This acceptance may not be made until ten days after the receipt of tenders and shall be given by letter, postmarked authentic.
If the total amount of loans offered is lower than the loan solicitation, the Beneficiary may waive this condition precedent, bringing his hand in the handwritten notice referred to in Article L. 312-17 of the Consumer Code.
Any notice shall be made by extrajudicial, registered letter with notification of receipt or hand-delivered against receipt for.
If the RECIPIENT desires to surrender, for reasons of pure convenience personal with this condition precedent, it shall notify the promise in the above form and time. He will have his hand must write the words in the notice referred to in Article L. 312-17 of the Consumer Code.
XI - PAYMENT OF THE CAPITAL
In consideration of the promise made by the promisor, the beneficiary pays the expiry of the withdrawal period of seven days for waiving the benefit of this promise, or the ... 23/03/2009, promising to recognize it and give him a receipt, the amount of ... (Letters) Euro (€ ...), as capital allowance.
This allowance will be deducted from capital due to price competition, if completion of the sale.
If lapse of this promise, as a result of the failure or non-fulfillment of only one of the conditions precedent before the expiration time of this promise or the deadline to lift imparted to the RECIPIENT option, the allowance will be immediately and fully restored to the beneficiary without penalty or compensation of any kind.
However, if the failure concerns one or more of the conditions precedent set forth in the interest RECIPIENT exclusive, it will have the option to renounce the option by removing the deadline, and conditions set forth herein.
However, the allowance shall be forfeited automatically and without formality to the promise, if the recipient has not exercised the option or has adjourned without complying with the terms set forth herein, so that all conditions precedent are made before the expiration of the promise that the conditions set forth herein.
In case of realization of all conditions precedent set forth herein and if the option is exercised by the beneficiary, promise, whose commitment is final, can not then refuse to complete the sale by taking advantage of the provisions of section 1590 of the Civil Code.
(possibly)
XII - PLEDGE AND ESCROW
capital allowance, the payment will be made on the date provided for above, will be assigned as collateral by the promises the beneficiary, as a pledge to assure him the refund.
In order to ensure the effectiveness of the pledge, said sum of ... (Letters) Euro (€ ...) will be furnished by the promises day of payment to M ..., third party agreed between the parties in terms of section 2076 of the Civil Code, appointed as receiver for the duration of validity of the promise, involved herein and accepts.
XIII - CONDITIONS PRECEDENT
(to be added for a loan application by the recipient: In addition to the condition precedent of obtaining by RECIPIENT of loan requested), this sales agreement is made and accepted subject the advent within the above specified conditions precedent:
- payment by the beneficiary promising, ... 23/03/2009, the amount of ... (Letters) Euro (€ ...) provided as compensation immobilization;
- ... (Information not revealing mortgage registration for an amount higher than the price of the sale, planning permission not revealing a state of peril, etc.).
XIV - EXPENSE
All of these fees and charges shall be borne by ... .
XV - ELECTION OF DOMICILE
For the execution hereof and their followers, RECIPIENT elects domicile at ... and promises to ... .
XVI. REGISTRATION
This promise will be registered within ten days, on pain of nullity, in accordance in section A of the 1840 Tax Code by ... .
Done at ... ... .
In ... originals, one for each party, one for the record (if applicable add: and one for the receiver).
words scratched Dummies: ...
Lines striped zero ...
figures scratched Dummies: ...
...
Signature of parties
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