Purchaser`s Rights To Rescind An Agreement

The law refers to the buyer`s “use or enjoyment” of the property, which introduces a subjective element in assessing a buyer`s eligibility for protection under the amended legislation. In other words, it is worth asking what the use or enjoyment of the property in question would imply by the buyer concerned (not the use and enjoyment of a “normal” property by the normal purchaser) and whether that specific use or enjoyment would be affected by a modification of a particular material. But could this bill have unintended consequences? While few would object to a buyer having the right to expect that a property, once completed, would meet accessibility standards for persons with disabilities when it has been marketed as such – the capital of these changes is less clear because the use or enjoyment of a property by a buyer becomes more arbitrary. How will a buyer withdraw from a contract in practice? As the above test is conducted at the time the contract is concluded and not on an objective basis, it is unlikely to provide much comfort to developers and financiers. The termination of the treaty is a last resort in the event of an infringement. The termination of the contract is possible if the goods are defective and the delivery is delayed. However, the purchaser has the right to retract only if the offence is of major importance to him and the seller knew or should have known. There is no formality requirement for the declaration of resignation, unless otherwise agreed between the parties. The declaration of resignation must indicate the reason for the termination of the contract, i.e.

the infringement must be clearly established. It is of course advisable to make the communication in writing. The law does not set a specific procedure for withdrawal requests. It is not clear whether purchasers are required to assert a right of withdrawal or whether developers are required to rebut a right by demonstrating that a modification of a particular material would not affect a particular buyer (given the intended use or enjoyment of the property by the purchaser concerned). Instead, take an enthusiastic snooker player who offers a contract to purchase an apartment outside the plan by invoking the dimensions of a 6.7m x 4.9m room, which is perfectly sized to allow the installation of a snooker table in size, and ideal for quite specific use and enjoyment of the property by this hypothetical buyer.

April 11, 2021

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