Amends The Act General Town Planning And Constructions, In The Field Of Promise For The Sale Of Certain Real Estate Contract And Criminalizes Conduct Constituent Scam In The Article 470 Of The Penal Code

Original Language Title: MODIFICA LA LEY GENERAL DE URBANISMO Y CONSTRUCCIONES, EN MATERIA DE CONTRATO DE PROMESA DE COMPRAVENTA DE DETERMINADOS BIENES RAICES Y CRIMINALIZA CONDUCTA CONSTITUTIVA DE ESTAFA EN EL ARTICULO 470 DEL CODIGO PENAL

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"Article 1.-Add the following article 138 bis in the General town planning and constructions Act:" article 138 bis.-natural or legal persons having twist the real estate activity or those who constructed or charged to build real estate destined to housing, local commercial or offices, and celebrated promise of sale contracts, must grant them through private instruments authorized notary and warn them by insurance policy or banking ballot " accepted by the promitente buyer. This warranty, duly identified, will be incorporated into the contract in favor of the promitente buyer, at a value equal to the part of the price of the good root delivered by this and established in the respective contract of promise, for the event that this non-observance within the time limit or to the fulfilment of the condition laid down by the promitente seller. The guarantee shall remain in force while the property is subject to any encumbrances or prohibition issued directly of pending and attributable to promitente seller and obligations until the registration of the domain in the registry of property of the respective goods conservative roots, in favour of the promitente buyer.
Public notaries will not cleared contracts that promise of sale referred to in the preceding paragraph if not the security in favour of the promitente buyer has been lodged. "."