Real effectiveness in a purchase and sale promise contract refers to the contract’s ability to be opposable to third parties, granting the promissory buyer a real right over the property, even before the execution of the definitive contract. This concept is important because it protects the promissory buyer against possible sales of the property to third parties by the promissory seller.
Requirements for Real Effectiveness
For a purchase and sale promise contract to have real effectiveness, the following requirements must be met:
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Contract Form:
The promise contract must be executed by public deed or by authenticated private document.
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Contract Registration:
The promise contract must be registered at the Property Registration Office. This registration is crucial for the contract to gain real effectiveness and be opposable to third parties.
Effects of Real Effectiveness
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Protection against Third Parties:
Once registered with real effectiveness, the promise contract protects the promissory buyer from possible charges or encumbrances that may be registered on the property after the contract registration. In addition, if the promissory seller attempts to sell the property to a third party, the promissory buyer may oppose that sale and demand specific performance of the contract, regardless of the seller’s will.
Registration of real effectiveness can only be done with the agreement of the buyer and seller.
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Legal Security:
Real effectiveness offers an additional guarantee to the promissory buyer that the sale promise will be fulfilled, removing third parties’ interest in acquiring the property.
Real effectiveness is, therefore, a powerful tool that increases the legal security of the promissory buyer, ensuring that their rights over the property are protected until the execution of the definitive contract.