Preliminary contract - Legal lexicon
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Legal lexicon > Preliminary contract

Preliminary contract

The preliminary contract must contain a stipulation to the effect that the promisor (buyer) may withdraw his promise within 10 days after signing it.

In addition to the name and address of the seller and of the promisor (buyer), the work to be performed, the sale price, the delivery date and the real rights affecting the property, the preliminary contract must contain any useful information pertaining to the characteristics of the immovable property and, where the sale price is subject to review, the terms and conditions of review.

Where the preliminary contract provides for an indemnity in case of exercise of the right of withdrawal, the indemnity may not exceed 0.5% of the agreed sale price.

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