Promise-to-sell agreement for real estate

A promise-to-sell agreement for real estate is a preliminary contract in which the parties mutually undertake to conclude the sale of a specific immovable in the future. Since the actual conveyance takes place at the land registry, the promise prepares the sale and entitles each party to demand its execution.

Validity requires notarised official form; privately written promises are void. The agreement may be annotated in the land register, in which case the buyer's right becomes assertable against third parties who later acquire the property, with the annotation's effect limited to a statutory period.

If the seller fails to perform, the buyer may sue for cancellation of the current title and registration in their own name. Because purchases from contractors in land-share projects are commonly made through such promises, preserving proof of payment and using the annotation facility are of major importance for buyers.