Basic principles.
The promise of sale is the contract by means of which the parties promise each other against each other the conclusion of a contract of sale in respect of a given good with specific conditions established by them.
The parties to the promise of sale are known as Seller Promitent and Buyer Promissor.
The promise contract only gives rise to obligations to do, consisting of entering into the respective contract in accordance with what is offered.
The promise contract, in addition to satisfying the essential and validity requirements of the contracts, in order to bind, must:
I.- Record in writing;
II.- Express the characteristic elements of the contract whose conclusion is promised, specifying the fundamental bases on which its main clauses must be developed, that is, the conditions in order for the sale to finally materialize and also, the conditions that will be contained in said contract of sale.
III.- Limit yourself to a certain time.
Parts.
The Seller Promissor must be identified, who must be the owner of the property object of the operation.
You must provide your general information and identity documents or failing that that prove your personality and in the case of natural persons, if you have contracted marriage under the regime of conjugal society, you must sign the promise contract in the same way your spouse.
It is applicable to the Prospective Buyer, so he must in the same condition provide the information and documentation set forth above.
Good object of the operation.
The Seller Promissor must always prove the ownership or the right of the good that promises to sell, otherwise he will not be able to agree on the promise of sale.
Future assets may be the subject of the sale, unless it is the inheritance of a living person, even if the latter gives his consent.
Consideration–Price.
The parties will agree on the price or conditions for the fixing of the true price at the time of the conclusion of the contract of sale.
Likewise, they will agree on the form of payment of said price, establishing the mode, temporality and place of payment.
Possession.
Actual delivery consists of the material delivery of the good. There is legal delivery when even if the good is not materially delivered, the law considers it received by the Buyer. There is virtual delivery, when the Buyer wants it, not because the law provides it, the Buyer is given as received of the good that has not yet been delivered materially. Delivery, finally, is symbolic, when it is done by the mere reception of a symbol, such as the reception of the keys to the house sold. From the moment the Buyer receives the good in any of the aforementioned forms, the Seller who keeps it in his possession will only have the rights and obligations of a depositary.
Conditions.
The parties may establish specific obligations other than the payment of the price for the materialization of the definitive contract of sale, which must be physically and legally possible.
Likewise, the parties may establish conditions that depend on a future event of certain or uncertain realization. Example: The constitution of a property regime in a real estate condominium.
Sanitation.
The Seller Promissor will be obliged both in the promise and in the definitive contract of sale against the Prospective Buyer to the sanitation for the case of eviction.
Extinction of the promise.
The promise of sale will be extinguished for the following reasons:
I.- By agreement signed by the parties.
II.- By termination.
III.- For the perfection of the definitive contract of sale.
In the particular case of the state of Quintana Roo, the sale is perfected whenever it is granted in a public deed if the value of the real estate exceeds the equivalent of up to 500 minimum wages in force in the state and until the public deed containing the contract of sale is registered in the Public Registry of Property and Commerce.
The death of any of the parties does not extinguish the promise of sale.
General considerations applicable to the contract.
It should always be monitored to have the complete information and documentation regarding the parties and the property object of the contract, which must be:
- Valid official identification.
- Full name.
- Date and place of birth.
- Address to hear and receive notifications.
- Nationality.
- Marital status.
- Occupation.
- Registration in the Federal Taxpayers Registry.
In the case of immovable property:
1.- Title of ownership of the property in public deed with registration slip in the Public Registry of Property and Commerce.
2.- Cadastral certificate of the property.
Likewise, in case of non-compliance with any of the provisions, specific penalties and interest on unpaid balances can be agreed, taking care not to set excessive percentages taking into account the legal interest.