Sale

A contract of sale and purchase involves a seller transferring property to a buyer for an agreed price.

All sales of immovable property, such as land, buildings, and airspace, or of rights over an immovable, must be made by a public deed. In most cases, the parties enter into a promise of sale and purchase agreement in the months preceding the proposed sale, upon which the buyer pays the seller a deposit on account of the price. The remaining balance is paid on the final deed.

When the deed is being prepared, the parties are required to furnish the notary with certain documents. At the final stage, taxes and duties must be paid. The rates at which these are calculated vary widely according to the circumstances of the parties and the type of property being transferred.