3 Care to be taken before signing a CPCV

What is the CPCV (Promise Buy and Sell Agreement)?

The CPCV is a non-definitive formalization of the business, with legal power, which indicates the rights and duties of both the buyer and the seller. Thus, although the CPCV does not nullify the possibility that the business will not materialize, it reduces its likelihood of occurrence. This contract is covered by the Civil Code which defines it as "the convention by which someone undertakes to enter into a certain contract" (Article 410(1).

1. Deadline for the conclusion of the deed

It is essential to ensure that in the CPCV there is a maximum period for the formalization of the deed.

2. Disposal of any charges

Include a clause relating to the disposal of any charges. In this way, the buyer mitigates the risk of being held liable for any debt, attachment or mortgage that the property may contain. 

3. Minutes of Condominium Assemblies

If the property is an autonomous fraction (and belonging to a condominium), before the signature of the CPCV, it is essential to request the last minutes of the assembly of condominos and check if there are values in arrears. 

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