Frequently asked questions

Frequently asked questions

Is there a cooling-off period for an individual who buys land?

The buyer's rights

In principle, no. The buyer of a plot of land, even a building plot, does not benefit by law from a withdrawal period after the signature of the preliminary contract. The legislator has provided for this right only for the acquisition of a property for residential use.

However, there is an exception: when the land is located in a subdivision subject to a development permit, the law imposes specific rules for marketing. The preliminary contract of sale is necessarily a unilateral promise to sell, which may be accompanied by a down payment, limited to a maximum of 5% of the sale price. Once the unilateral promise is signed, the buyer benefits from a 10-day withdrawal period, since November 25, 2018 (previously, this period was 7 days).

Attention: when the subdivision is created after a prior declaration, the buyer of a plot of land does not benefit from a withdrawal period.