What is the promise contract to sell the off-plan property (a comparative study)

Document Type : Original Article

Author

Faculty of Law - Mansoura University

Abstract

The promise to sell is one of the common forms of preliminary contracts, which is one of the most important forms of contracts, because any final contract must be preceded by a preliminary contract, as the promise to sell precedes the final contract of the sale process and is a practical method that is useful in achieving the greatest degree of link between the parties to the contractual relationship in order to pave the way for the conclusion of a final contract between them in the future. There is no doubt that the promise to sell has a fundamental role that comes into existence in the event that the parties to the contract cannot conclude the contract between them to transfer ownership of something such as the property, for example, the subject of the contract to the buyer. This is due to material circumstances and factors that prevent this, by analogy with the promise to sell the property, for example, if the tenant has the desire to buy the property but does not have its price, or that the person who wants to sell the property he occupies does not have an alternative to move to, but they can do so in the future, or in the event that he does not have the price prescribed for the sale of the property, which requires him to resort to financial institutions to obtain a mortgage, and this requires procedures and time.

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