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LEGAL RULING FOR ONGOING PROPERTY TRANSACTION CONTRACTS - Property transaction contracts signed where the 10 day cooling off period had not expired by 12th March - update on completion of 10 days legal right of withdrawal for buyers.

 

On 25th March 2020 the judiciary passed the following bill:

 

"All sales compromises, signed sales promises whose withdrawal period was not completed by March 12, 2020, are covered by Order no. 2020-306 of March 25, 2020. The withdrawal period of 10 days will start again at zero one month after the end of the health crisis."

 

As things stand at the moment:

The new 10-day deadline will start on 24 June 2020, one month after the planned end of the emergency measures.

 

"Tous les compromis de vente, promesses de vente signés dont le délai de rétractation n'était pas achevé au 12 mars 2020 sont concernés par l’Ordonnance n°2020-306 du 25 mars 2020. Le délai de rétractation de 10 jours repartira à zéro un mois après la fin de la de la crise sanitaire."

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