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A promise to purchase or to sell a building involves certain legal obligations. If a person does not fulfill its obligations, the beneficiary of a promise to purchase or to sell may force the counterparty to respect its commitment by means of an action in execution of title. This remedy allows the creditor of said promise to force the seller to issue the title deeds of the building or to force the buyer to acquire the building that is the subject of the promise.
In order to obtain the execution of title, certain formalities must be respected:
- The existence of a valid promise;
- A formal notice was sent to the other party;
- A deed of sale consistent with the promise;
- Tender or deposit of the purchase price.
These requirements apply with more or less rigor and it is recommended to consult a lawyer before undertaking such an action.
To make the action in execution of title even more effective, it is possible to register in advance the application on the land register, therefore temporarily preventing transactions of the building that could otherwise be carried out.
Bernier Fournier can help you enforce a promise to purchase or to sell and ensure that all legal requirements are met in order for you to undertake your action.
We will provide efficient and fast managing of your case considering the important financial stakes faced by both parties.