Definition : Preliminary contract (promise to purchase) - Annulment

An action by which an agreement or a contract are deprived of any effect, thereby releasing the parties from their obligations. For example, the sale of an immovable for residential use which is not preceded by a preliminary contract can be annulled at the request of the purchaser, if the latter can demonstrate that he suffers thereby a serious prejudice.

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The preliminary contract is signed before the purchase of a new or to be built property. To be enforceable, a preliminary contract must, contain the designation of the parties, the identification of the targeted immovable and the price offered.
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 Most buyers attach great importance to an apartment area/price ratio. Therefore, before signing the deed of sale, take time to carefully measure the area of your unit. Discrepancies between what is shown on the plan provided at the signing of the preliminary contract, versus the actual area shown on the cadastral plan or the certificate of location are frequent. This difference can be explained by many factors listed in the factsheet entitled The Area of the Private Portion.
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