What is a sale commitment? Is it legally valid?
A sale commitment is a contract the parties subscribe, previous to the definite title deed. This contract has to be settled in the Real Estate Registry at Promises Section and as from the settling date the buyer is fully entitled to the parcel. This means that this registration is preferred to any later seizure, mortgage, lease, etc., on the parcel or selling party. Therefore, the buyer is sure that possible seizures or any other taxes that may fall on the seller or on the parcel the buyer has purchased will not affect him due to the registration of the sale commitment. Besides, in the event the selling party put up any resistance to subscribe the title deed, the buyer may ask for the judicial subscription of the same. If so, completing a formality that could not take more than 60 days, a court-appointed judge will subscribe the parcel title deed acting in the capacity of the selling party. This procedure offers the buyer the security that the selling party cannot break the agreement a
