As is known, immovable properties are all registered and most of
the purchasing transactions regarding immovable take place in title
registry offices. Since such offices are not the optimum places for
the exchange of such high amounts, the safest transaction method
when acquiring property should take place in title registry
However, a purchasing does not almost always happen in such way.
Contractors intend to dispose their properties even there is no
construction at hand. At this exact point, it is crucial to be
aware of extortion since unapproved sale and purchase agreements
(SPA) are week with regards to enforceability. In the event that
the transaction cannot take place at the title registry office, it
should take place at the notary office since notarized agreements
are easily enforced. Such agreements are called "promise to
Most of the times, contractors may bring forward the excuse of
notary fees and try to prevent notarization however we highly
recommend the buyers to reject such demand and pay the notary fees
in order to prevent bigger problems that may occur in the
Please note that; the buyer, who has been saving for a long time
and dreaming to purchase his/her dream property may deprived of
registering such property under his/her name just because s/he has
avoided paying the notary fee.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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Back in Issue 05 of IQ, we examined the decision in Yam Seng PTE Ltd v International Trade Corporation Ltd and looked at whether a general obligation of good faith could be implied into contracts made in accordance with English law.
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