THE CONTRACT OF SELLING IN ADVANCE BUILLDIING AT SELLINY IN ADVANVACE BUILLDING ACT (24/5/89)

Finally a specific act regarding contracts of the sale of future building ratified in Iran, in 89/5/24. This act necessitated getting license for announcement of sale of future, advertisement, ending the construction of the building foundation at the time of the contract, formal contract, specifying the fines for the delay in carrying out the commitments of transferring the gradual possession the building to future buyer, in possibility of selling and arresting of apartment, having the right to ask for the current price of the building in cases which the buyer terminate the contract, or in the case of reduction of meters in the contract, and sometimes the possibility of completing the construction by the buyer, and regulation the formal document by him, absolute responsibility for damages of the building problems, generally it is an act in support of the buyer and prevents a lot of fraud and abuse and clarifies some controversial issues.