Preliminary Sale and Purchase Agreement – defects and remedies up to the purchaser
According to the decision issued by the Supreme Court on 20 May 2020 n. 9953, in a preliminary sale and purchase agreement regarding a real estate property, where the property is delivered to the promisee purchaser before the execution of the notarial deed of sale, the promisee purchaser is not subject to ordinary terms of limitation (i.e. eight days from the discovery) or prescription (one year from the delivery) provided for under Italian law, in order to raise claims against the seller for alleged defects of the property.
On the contrary, the promisee purchaser remains entitled to raise such claims after the execution of the final deed of sale.
In the case at issue, a preliminary agreement was signed between the parties for the purchase of a property and the promisee purchaser refused to enter into the notarial deed of sale alleging defects of the property.
The case was decided in favour of the promisee purchaser by the Supreme Court. According to such decision, the time limit for raising claims starts to run only once the notarial deed of sale is entered into between the parties.
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