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Vente en l'Etat Future d'achevement

English translation: sale of property under construction / yet to be built

08:51 Aug 13, 2001
French to English translations [PRO]
Law/Patents
French term or phrase: Vente en l'Etat Future d'achevement
Do we have an official English translation for this?
Agius Language & Translation
United Kingdom
Local time: 02:22
English translation:sale of property under construction / yet to be built
Explanation:
Not clear from your extract whether the property in question is in the course of being built or if construction is not yet underway. The French term covers both but there is to my knowledge, no specific English expression or turn of phrase.

Firstly, by way of a reply to the first answer suggested by Marcus Malabad, I would like to comment as follows :

http://www.howards.co.uk/property/estate_agents/residential_...

"sale with full vacant possession on completion"

Marcus missed out the « VACANT possession », a term with a specific meaning in English law.

« Vacant possession : the exclusive use of land, ot which a purchaser is entitled on completion of the transaction unless he has contracted to buy subject to another's right of occupation. » (Oxford Dic of Law).

This means that when the purchaser takes possession of his land, when the « completion » stage of the sale procedure has taken place (when he has become the legal owner, for want of a better way of saying it), noone else will have the right to live there, to occupy the premises.

Does this match the French : « vente en état futur d’achèvement » ? Not at all. From the two sources below, it is clear that the two are quite different and wholly unrelated. The French term in the question relates to completion in the sense of the physical completion of the construction process. The English meaning of completion relates to the end of the contractual sale/puchase process (« acte authentique d’achat » ?). I’m afraid that Marcus Malabad’s answer cannot be right.

Secondly, in asnwer to your question Claire, the original French term in fact refers to a specific type of contract for the sale of property (real estate) which has to take place according to a specific set of procedures which can be summed up as a two-stage process involving an undertaking to purchase through a « reservation contract » and a « contract for sale ». Construction of the property concerned has either not started or is underway but has not been finished. The term is commonly used in connection with purchases for investment purposes under the provisions of legislation which was the brainchild of a certain Périssol. Generally considered as too advantageous for the humble taxpayer, this piece of legislation was « replaced » by the « loi Besson », which relates only to social housing, the previous law being much more wide-ranging. Potential purchasers buying for tax reasons were simply wanting to put their money into any new property (almost) and wanted to get in there first (espceially when the 31/12/98 deadline for the old law was announced) and make sure they would be able to buy the property by reserving it before it had been built or finished.

http://www.perissol.com/perissolprincipe.htm

Principe de la loi Périssol : Le principe est d'investir dans l'immobilier, avec ou sans apport initial. Il doit s'agir d'un immeuble ou d'une maison neuve. Il peut exceptionnellement s'agir d'ancien rénové en profondeur mais peu de programmes correspondent à ce cas.


http://www.notaires.fr/csn/textes.nsf/ac92b5738c117914012568...

La vente en l'état futur d'achèvement est le contrat par lequel le vendeur transfère immédiatement à l'acquéreur ses droits sur le sol ainsi que la propriété des constructions existantes. Les ouvrages à venir deviennent la propriété de l'acquéreur au fur et à mesure de leur exécution ; l'acquéreur est tenu d'en payer le prix à mesure de l'avancement des travaux. Le vendeur conserve les pouvoirs de maître de l'ouvrage jusqu'à la réception des travaux.

S'agissant d'une vente portant sur un immeuble à construire…

http://www.perissol.com/perissolvefa.htm

Vente en l'état futur d'achèvement : C'est un contrat de vente d'un programme immobilier avant son achèvement, voire avant le début des travaux. Ce type de contrat est fréquemment mais non systématiquement utilisé dans les programmes Périssol.

Déroulement de la vente : La vente se fait en deux étapes: Un contrat de réservation suivi d'un contrat de vente. (Ties up with your other question about « réervatiare » etc…)

http://www.openlawdirect.com/openlaw/generic/convey_terms.as...

Completion Date : This is the date that ownership of the house/flat passes from the seller to the buyer.




Selected response from:

Nikki Scott-Despaigne
Local time: 03:22
Grading comment
4 KudoZ points were awarded for this answer



Summary of answers provided
na +2sale of property under construction / yet to be built
Nikki Scott-Despaigne
na +1Sale of property under construction
Germaine A Hoston
na -1pre-construction promotion
Parrot
na -2sale for possession on completion
Marcus Malabad
na -2On sale "as is"
Alain BERTRAND


  

Answers


50 mins peer agreement (net): -2
sale for possession on completion


Explanation:
Translation supported by Le Robert 7 Colins Dict. du Management. See links below for examples (in a real estate context)


    Reference: http://www.agrinetinternational.com/Savills/b1p9.htm
    Reference: http://www.howards.co.uk/property/estate_agents/residential_...
Marcus Malabad
Canada
Native speaker of: Native in EnglishEnglish, Native in TagalogTagalog
PRO pts in pair: 390

Peer comments on this answer (and responses from the answerer)
disagree  Nikki Scott-Despaigne: Avoid using "completion" here. Specific and different meaning in property in the UK
11 hrs
  -> 'on completion' here means 'when the property is finished'...
disagree  Tony M: I agree with Nikki, as 'on completion' doesn't imply 'completion of the property', but rather 'completion of the sale'.
6274 days
Login to enter a peer comment (or grade)

51 mins peer agreement (net): +1
Sale of property under construction


Explanation:
I cannot in fact find an official translation of this but simply suggest this possibility. Hope it helps.



    Experience with French real estate contracts
Germaine A Hoston
Local time: 18:22
Native speaker of: English
PRO pts in pair: 118

Peer comments on this answer (and responses from the answerer)
agree  Nikki Scott-Despaigne: Matches the meaning
11 hrs
neutral  Tony M: The trouble is, a VEFA may well happen before construction has even started, so this could be misleading.
6274 days
Login to enter a peer comment (or grade)

1 hr peer agreement (net): -1
pre-construction promotion


Explanation:
(in which "promotion" = sales). Found on a US (Virginia) website. See:
www.virginiahomeguide.com/masterplanned/search.php3?Region=...

Parrot
Spain
Local time: 03:22
Native speaker of: English
PRO pts in pair: 1861

Peer comments on this answer (and responses from the answerer)
disagree  Nikki Scott-Despaigne: NOt just a promotion but agreement for sale before building finished
11 hrs
Login to enter a peer comment (or grade)

13 hrs peer agreement (net): +2
sale of property under construction / yet to be built


Explanation:
Not clear from your extract whether the property in question is in the course of being built or if construction is not yet underway. The French term covers both but there is to my knowledge, no specific English expression or turn of phrase.

Firstly, by way of a reply to the first answer suggested by Marcus Malabad, I would like to comment as follows :

http://www.howards.co.uk/property/estate_agents/residential_...

"sale with full vacant possession on completion"

Marcus missed out the « VACANT possession », a term with a specific meaning in English law.

« Vacant possession : the exclusive use of land, ot which a purchaser is entitled on completion of the transaction unless he has contracted to buy subject to another's right of occupation. » (Oxford Dic of Law).

This means that when the purchaser takes possession of his land, when the « completion » stage of the sale procedure has taken place (when he has become the legal owner, for want of a better way of saying it), noone else will have the right to live there, to occupy the premises.

Does this match the French : « vente en état futur d’achèvement » ? Not at all. From the two sources below, it is clear that the two are quite different and wholly unrelated. The French term in the question relates to completion in the sense of the physical completion of the construction process. The English meaning of completion relates to the end of the contractual sale/puchase process (« acte authentique d’achat » ?). I’m afraid that Marcus Malabad’s answer cannot be right.

Secondly, in asnwer to your question Claire, the original French term in fact refers to a specific type of contract for the sale of property (real estate) which has to take place according to a specific set of procedures which can be summed up as a two-stage process involving an undertaking to purchase through a « reservation contract » and a « contract for sale ». Construction of the property concerned has either not started or is underway but has not been finished. The term is commonly used in connection with purchases for investment purposes under the provisions of legislation which was the brainchild of a certain Périssol. Generally considered as too advantageous for the humble taxpayer, this piece of legislation was « replaced » by the « loi Besson », which relates only to social housing, the previous law being much more wide-ranging. Potential purchasers buying for tax reasons were simply wanting to put their money into any new property (almost) and wanted to get in there first (espceially when the 31/12/98 deadline for the old law was announced) and make sure they would be able to buy the property by reserving it before it had been built or finished.

http://www.perissol.com/perissolprincipe.htm

Principe de la loi Périssol : Le principe est d'investir dans l'immobilier, avec ou sans apport initial. Il doit s'agir d'un immeuble ou d'une maison neuve. Il peut exceptionnellement s'agir d'ancien rénové en profondeur mais peu de programmes correspondent à ce cas.


http://www.notaires.fr/csn/textes.nsf/ac92b5738c117914012568...

La vente en l'état futur d'achèvement est le contrat par lequel le vendeur transfère immédiatement à l'acquéreur ses droits sur le sol ainsi que la propriété des constructions existantes. Les ouvrages à venir deviennent la propriété de l'acquéreur au fur et à mesure de leur exécution ; l'acquéreur est tenu d'en payer le prix à mesure de l'avancement des travaux. Le vendeur conserve les pouvoirs de maître de l'ouvrage jusqu'à la réception des travaux.

S'agissant d'une vente portant sur un immeuble à construire…

http://www.perissol.com/perissolvefa.htm

Vente en l'état futur d'achèvement : C'est un contrat de vente d'un programme immobilier avant son achèvement, voire avant le début des travaux. Ce type de contrat est fréquemment mais non systématiquement utilisé dans les programmes Périssol.

Déroulement de la vente : La vente se fait en deux étapes: Un contrat de réservation suivi d'un contrat de vente. (Ties up with your other question about « réervatiare » etc…)

http://www.openlawdirect.com/openlaw/generic/convey_terms.as...

Completion Date : This is the date that ownership of the house/flat passes from the seller to the buyer.






Nikki Scott-Despaigne
Local time: 03:22
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 4638

Peer comments on this answer (and responses from the answerer)
agree  Marcus Malabad: Nikki, my references may have been off-mark but the translation is correct, no? (dicko...)
4 hrs
  -> Only prob is the specific meaning in conveyancing of the word "completion". Risk of confusion in ctxt - OK in ordin. Eng
agree  Tony M: Safest bet, to cover all possibilities.
6273 days
Login to enter a peer comment (or grade)

20 hrs peer agreement (net): -2
On sale "as is"


Explanation:
"As is" legally stands for actual state, with no obligation to terminate construction, repairs, upgrading and with existing risks, structures, furniture, machines and sometimes even manpower (in case of factories)

Alain BERTRAND
Local time: 05:22
PRO pts in pair: 12

Peer comments on this answer (and responses from the answerer)
disagree  Nikki Scott-Despaigne: "en état" - not the same as "en l'Etat Future d'achèvement", purchase only goes ahead if built, no cosntr., no sale!
1 day 12 hrs
disagree  Tony M: "en l'état" is quite different.
6273 days
Login to enter a peer comment (or grade)



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