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|Romanian to English translations [PRO]|
Law/Patents - Law: Contract(s)
|Romanian term or phrase: promisiune bilaterala de vanzare-cumparare|
|promisiune bilaterala de vanzare-cumparare a unui imobil, care nu este echivalent cu contractul de vanzare-cumparare cu plata pretului in avans|
|bilateral promise to sell / preliminary sell agreement|
In the preliminary sale agreement (or "bilateral promise to sell"), the seller and buyer both agree to conclude the sale at a jointly determined price. In legal terms, the preliminary sale agreement therefore has the status of a final sale. If either party cancels the sale, the other may take legal action and claim damages. The buyer pays between 5% and 10% of the selling price on signing the preliminary sale agreement. This sum, known as a deposit, is deducted from the price when the notarised instrument is signed.
Unlike the promise to sell, the preliminary sale agreement does not have to be registered with the tax authorities. The fact that charges are not applied is an advantage.
Note added at 2 days16 hrs (2011-02-01 13:08:06 GMT)
In franceza - promesse de vente
A sort of pre-contract signed by the seller and the buyer of a bien immobilier (property). It is advisable to have this drawn up by a professional. There are two types of 'promise to sell' contracts:
* 'La promesse unilatérale de vente' (unilateral promise to sell contract) that commits the seller, and not the buyer, during the time period that must be clearly specified in the contract,
* 'La promesse bilatérale de vente' (bilateral promise to sell), also called "synallagmatique", or 'compromis de vente', that commits the buyer in the same way as the seller. It is usual for the buyer to pay a deposit (in general 10% of the sale price) to guarantee that the contract be fulfilled.
In Spaniola- Promesa de venta
VALIDITY AND TERMINATION OF PROMISE TO SELL OF REAL PROPERTY
In our bulletin we will investigate conditions of validity and termination of promise to sell of real property which is often applicable in practice.
The promise to sell is a preliminary contract providing claim rights to conclude of a real property sales contract. By the preliminary contract parties express their wills to conclude the principal contract. If one of the parties refuses to execute his obligations, then the other party becomes entitle to claim the execution of obligations by the other party.
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