A sales contract and a deprivation of purchase are legal contracts that may seem equivalent to a layperson, but they are in fact used for different purposes. They could, quite rightly, be confused; the terms “contract” and “deed” both relate to legal documents, and both deal with sales. But it`s not just about paying and maintaining the purpose of the sale. In practical terms, these contracts relate to the transfer of title or ownership of what has been purchased. This article refers to a sales contract and a deed of sale as applied to real estate transactions. 1. Seller – If married, the spouse must give consent. Otherwise, the sale is not valid. According to the family code, if the spouse sells the property without the consent and knowledge of the other spouse, then the sale is void.
However, the transaction is considered a continuous offer and can be refined with the acceptance of the other spouse. On the other hand, if the spouse sold the community land to the knowledge, but without the consent of the other, the contract is only cancelled. The other spouse has 5 years from the date of the contract to go to court and ask for the cancellation of the contract. 2. Buyer – no need for spouses` consent, but better included. In any case, it can be part of the absolute ownership community or the conjugal partnership. 3. Ensure that all parties of legal age (18 and over), healthy mind (unreported insane) and do not work under any constraints (under guardianship, etc.) 4. Include the names, addresses, marital status and tax identification numbers of the parties. In cases concerning title (property), a sales contract is: A: No, they are not. The sales contract is preceded by a sales and purchase contract, the first serving as the basis for the second. There is an act of finitude when it comes to the deed of sale.
On the other hand, the sales contract requires the parties to first meet the conditions they have accepted. This necessarily means that such conditions must be met before a subsequent agreement is reached. Only then can the process be put in place so that the transfer of ownership to the property can be effective. A sales contract is a contract or agreement by which a party (seller/seller) agrees to deliver and transfer something to the other party (buyer/seller/buyer) who in turn agrees to pay the price. A: To be clear, there is no transfer of ownership going on here. It is agreed that the seller undertakes to sell real estate to the buyer, who in turn confirms to buy it. Once the contract is signed, the parties` commitments begin. Each must meet a number of conditions to fulfill their part of the agreement. Note that the seller must not own the thing at the beginning of the sales contract. Nor should the buyer be able to bear the full payment. It is important that at the end of the agreed period, both parties can terminate the bargain.