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Does the individual who buys land benefit from a withdrawal period?
Land and withdrawal period
In principle no. The buyer of a plot of land, even to be built, does not benefit according to the law from a withdrawal period after the signature of the preliminary contract. The legislator has provided for this right only for the acquisition of a property for residential use.
There is, however, one exception: when the land is located in a subdivision subject to development permits, the law imposes special rules for marketing. The preliminary contract of sale is necessarily a unilateral promise of sale, which can be accompanied by an immobilization indemnity, limited to a maximum of 5% of the sale price. Once the unilateral promise is signed, the buyer has a withdrawal period of 10 days, since November 25, 2018 (previously, this period was 7 days).
Attention : when the subdivision is created after a prior declaration, the buyer of a land does not benefit from a withdrawal period.
There is, however, one exception: when the land is located in a subdivision subject to development permits, the law imposes special rules for marketing. The preliminary contract of sale is necessarily a unilateral promise of sale, which can be accompanied by an immobilization indemnity, limited to a maximum of 5% of the sale price. Once the unilateral promise is signed, the buyer has a withdrawal period of 10 days, since November 25, 2018 (previously, this period was 7 days).
Attention : when the subdivision is created after a prior declaration, the buyer of a land does not benefit from a withdrawal period.
Good to know
If the sales agreement has a validity period of more than 18 months, it must have the form of an authentic deed. It is an obligation.
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