Sale and purchase agreement in Romania
Civil litigation lawyer in Romania.General aspects sale contract in Romania
The sale contract in Romania is defined by the Civil Code as the contract through which one party, called the seller, transfers or undertakes to transfer to the other party, called the buyer, the ownership of a good in exchange for a price that the buyer undertakes to pay. Through the sale and purchase agreements in Romania, not only the ownership right but also a dismemberment of it or any other right can be transferred.
The fundamental principle underlying the conclusion of the sale contract in Romania is contractual freedom, where the parties are free to conclude any contracts and determine their content, but with respect to the limits imposed by law, public order, and good morals. The essential elements to be considered when concluding the SPA are always the determination of the price and the good being sold. Also, the validity of the sale contract in Romania depends on the agreement of the will of the parties involved, being considered concluded at the moment when both parties express their consent. An exception to this rule is solemn contracts, which are concluded at the moment of fulfilling the formalities required by law for their validity, such as the sale of real estate in Romania which is registered in the Land Registry in Romania, thereby recognizing the ownership right of the new owner.
The Romanian Law Firm Pavel Mărgărit and Associates recommends concluding a sale and purchase agreements in Romania in a solemn form, especially when you are in a situation of a transaction on the real estate market in Romania, as this requires drafting a clear and detailed document, specifying contractual clauses, obligations of the parties, execution conditions, or sanctions for non-compliance. In this context, it is advisable to seek the services of a civil lawyer in Romania or a real estate lawyer in Romania for SPA to assist you in drafting, reviewing, and negotiating the sale contract, thus benefiting from additional legal protection of the rights and obligations established.
Civil lawyer in Romania. Steps before concluding a sale contract in Romania
Given the high stakes involved in a sale contract in Romania on the real estate market in Romania, whether you are in the situation of a sale of real estate in Romania or a purchase of real estate in Romania, following certain steps before concluding the sale contract can prevent potential misunderstandings or risks related to delivery delays or changes to the initial project.
In this regard, the process for purchase of real estate in Romania from a real estate developer in Romania sometimes involves concluding a presale and purchase agreement in Romania with the developer. The presale and purchase agreement in Romania is essentially a promise of sale between the buyer and the real estate developer in Romania, providing a guarantee to both parties that they will conclude the sale and purchase agreements in Romania in the future. This guarantee is often backed by an advance payment made by the buyer at the time of concluding the presale and purchase agreement in Romania or on a date agreed upon in the contract. Consulting with a civil lawyer in Romania or a real estate lawyer in Romania is crucial at this stage, as they can negotiate with the real estate developer in Romania to obtain favorable conditions for the client and also alert them to unfavorable clauses that could lead to future disputes between the parties.
Another important step in the process for purchase of real estate in Romania on the real estate market in Romania is conducting a due diligence report in Romania, which represents a legal, financial, and technical analysis of the property that is subject to the sale transaction.
Typically, the task of carrying out a due diligence report in Romania falls to lawyers for sale and purchase agreement in Romania, who, after reviewing all accessible documents, determine whether there are any litigious rights over the property, whether the property has any encumbrances, whether there is already a presale and purchase agreement in Romania, or if there are any lease or loan agreements in place. This information is obtained by consulting the land registry in Romania, where the owner is required to register these details so that any interested party can verify the legal status of a property.
The Romanian Law Firm Pavel Mărgărit and Associates offers comprehensive legal services regarding sale of real estate in Romania operations, so a civil litigation lawyer in Romania or a real estate lawyer in Romania can provide legal assistance in drafting the presale and purchase agreement in Romania (promise of sale) and conducting a due diligence report in Romania, ensuring the client is fully informed about all risks associated with acquiring ownership rights.
Real estate lawyer in Romania. Performance of the sale and purchase agreements in Romania
Upon concluding the sale contract in Romania in authentic form, both parties to the contract acquire rights and obligations, as it is a synallagmatic contract.
The main obligations of the seller include transferring ownership of the sold property, delivering it, and guaranteeing the buyer against defects in the property and against eviction, which refers to a situation where the possession and use of the property by the owner are disturbed by another person claiming a right to it. Additionally, the seller is also responsible for removing from the land registry in Romania, at their own expense, any rights registered on the sold property if these rights have been extinguished.
Regarding the obligations of the buyer, they must take possession of the sold property and pay the sale price by the term stipulated in the contract.
The Romanian Law Firm Pavel Mărgărit and Associates provides legal assistance in drafting and managing sale and purchase agreements in Romania, including the presale and purchase agreement in Romania (SPA), and ensures compliance with all contractual and legal obligations.
The Romanian Law Firm Pavel, Margarit and Associates provides legal advice and legal assistance services in civil law, especially regarding assistance in concluding a sale contract in Romania. A civil lawyer in Romania can support you in concluding a sale contract in Romania. In order to benefit from our professional support and for lawyer advice, we invite you to fill in the contact form available on our website https://avocatpavel.com/contact/.
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Lawyers for sale and purchase agreement in Romania. Consequences of not respecting the sale contract in Romania
It is important for those wishing to purchase of real estate in Romania to note that a sale contract in Romania must always be concluded in authentic form, in the presence of a notary, and non-compliance with this validity requirement renders the act null. The Romanian Law Firm Pavel Mărgărit and Associates collaborates with top professionals in the field, including notaries, executors, and legal experts, which is why a civil lawyer in Romania from our team can assist you before the notary public in authenticating the sale act.
In the event that the debtor fails to fulfill their contractual obligations, the creditor has at their disposal an action for termination of agreement, a contractual remedy that produces retroactive effects, with the sale contract being considered as if it had never been concluded.
To initiate an action for termination of agreement , the non-performance of the obligation must not be of minor importance. An action for termination of agreement can be ordered by the court upon request, can be declared unilaterally by the interested party, or can occur by operation of law, in situations expressly provided by law or established by the parties’ consent.
A real estate lawyer in Romania can guide you throughout the sale and purchase agreements in Romania process, from drafting, negotiating, and reviewing the sale contract in Romania, to representing you before public institutions to fulfill all legal requirements to avoid unwanted disputes and maintaining constant correspondence with the client to fully understand the rights, obligations, and consequences arising from concluding a sale contract.
The Romanian Law Firm Pavel Mărgărit and Associates offers high-standard legal services in various practice areas, including those related to the sale of real estate in Romania. Our team demonstrates a comprehensive understanding of the regulations concerning the real estate market in Romania, providing clear and efficient legal solutions to all clients seeking the services of a civil litigation lawyer in Romania or lawyers for sale and purchase agreement in Romania.
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