Modifies The Law General Town Planning And Constructions, Contracts Of Pledge For The Sale Of Certain Real Estate Without Final Acceptance

Original Language Title: MODIFICA LA LEY GENERAL DE URBANISMO Y CONSTRUCCIONES, EN MATERIA DE CONTRATOS DE PROMESA DE COMPRAVENTA DE DETERMINADOS BIENES RAICES SIN RECEPCION DEFINITIVA

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$20 per month, or Get a Day Pass for only USD$4.99.
"(Artículo único.-Introdúcense las siguientes modificaciones en el artículo 138 bis deel decreto con fuerza de ley Nº458, de 1975, Ley General de Urbanismo y Construcciones: 1) Insert, in the first paragraph, after the expression"housing, commercial premises and offices", the phrase" lacking final acceptance ", followed by a comma (,)."

(2) Insert, in paragraph first, then of the phrase "and celebrated promise of sale contracts", the following phrase: "in which the promitente buyer delivers all or part of the price of the good root".

(3) Agreganse following paragraphs third, fourth, fifth and sixth, new: savings account from which the promitente buyer is unable to turn funds. "
(b) deposits in favour of promitente seller, which must be kept in the custody of the notary authorising.

In the cases indicated in letters a) and b) of the preceding subsection, the anticipated amounts will be made available of promitente seller once the contract of sale is concluded and will enter the building on behalf of the promitente buyer on the real estate conservative respective.

Time deposits and savings accounts referred to in this standard shall comply with the General requirements laid down by the provisions of laws, regulations and rules of the Superintendency of banks and financial institutions current and, in addition, with the specific requirements which set the General town planning and constructions Ordinance in effect. In the cases provided for in subparagraphs a) and b) of the third subparagraph shall stipulate a deadline for the fulfilment of the condition to enter the domain of the property on behalf of the promitente buyer and if anything is says means that this period is 1 year from the date of the promise.

The foregoing provisions shall apply to any legal act that involves the delivery of a certain amount of money for the acquisition of the domain of a home, shop or office, that does not have final acceptance, except those governed by the General Law of cooperatives or Act No. 19.281, lease of dwellings with promise of sale, even if they do not have final acceptance. In any case, the provisions contained in this article shall apply to the sale and purchase of dwellings, business premises or offices when at the time of agreement is that the property is mortgaged, in which event the warranty granted stays current while not proceed to the rise of the mortgage, unless the mortgagee attend the deed of sale by lifting the mortgage and the prohibition of encumber or Dispose if any. "."