LAW no 96-1107 of December 18, 1996 improving the protection of buyers of co-ownership lots (1)
Art. 1st. – I. – Article 46 of Law No. 65-557 of July 10, 1965 establishing the status of co-ownership of built buildings is thus restored:
<< Art. 46. - Any unilateral promise of sale or purchase, any contract carrying out or recording the sale of a lot or a fraction of a lot mentions the area of the private part of this lot or this fraction of a lot.
The invalidity of the act may be invoked on the basis of the absence of any mention of area.
<< This area is defined by the decree of the Council of State provided for in article 47.
<< The provisions of the first paragraph above are not applicable to cellars, garages, parking spaces or to lots or fractions of lots with an area below a threshold set by the decree in Council of State provided for in the article 47.
<< The beneficiary in the event of a promise to sell, the promisor in the event of a promise to purchase or the purchaser may bring an action for nullity, at the latest at the expiration of a period of one month from the authentic instrument noting the completion of the sale.
<< The signing of the authentic deed certifying the completion of the sale mentioning the area of the private part of the lot or fraction of the lot entails the forfeiture of the right to initiate or pursue an action for the nullity of the promise or the contract which preceded it, based on the absence of mention of this area.
<< If the area is greater than that expressed in the deed, the excess measurement does not give rise to any additional price.
<< If the area is less than one twentieth than that expressed in the deed, the seller, at the request of the purchaser, bears a reduction in the price proportional to the smallest measure.
“The action to reduce the price must be brought by the purchaser within a period of one year from the authentic act noting the completion of the sale, on pain of forfeiture. >> II. – In the first paragraph of article 43 of the aforementioned law no 65-557 of 10 July 1965, the words “and 42” are replaced by the words “, 42 and 46”.
Art. 2. – This law is applicable in the overseas territories and in Mayotte.
Art. 3. – This law comes into force at the end of a period of six months from its promulgation.
It is not applicable to authentic instruments noting within six months from the date of entry into force of this law a sale made prior to this entry into force or occurring following a unilateral promise of sale or purchase date prior to this entry into force, nor to court decisions noting a sale made prior to this entry into force.
This law will be executed as state law.
Done in Paris, December 18, 1996.