The Alur law was published at the Official Journal on March 26, 2014. It takes the official name of law n° 2014-366 of March 24, 2014, for the access to housing and renovated urbanism. The Alur law on real estate institutes important changes for the tenants and the landlords.
Means of notifications
The following stipulations are applicable to the sale of a lot or part of a lot or to the transfer of a right in real estate regarding a lot or part of a lot of a building built with a full or partial usage for housing and subject to the status of the condominium.
Now to be able to clear the right to back out in case of a commitment to sell or the cooling-off period regarding an authentic deed of sale that will not have been preceded by a commitment, are given to the purchaser as latest on the day of completion of the commitment, the following documents and information* :
- The condominium by-laws and descriptive schedule as well as the deeds modifying them, if they were published.
- The minutes of the general meetings of the last three years, if the selling co-owner has them.
- Any documents regarding the financial situation of the condominium and the selling co-owner, specifically :
- The amount of the current charges of the provisional budget and the charges outside of the provisional budget paid by the selling co-owner during the last two accounting years prior to the sale.
- The amounts susceptible to be owed to the co-owners' association by the purchaser.
- The global status of the unpaid amounts within the association and the debt towards providers.
- When the co-owners' association has funds for works, the amount of the share on the funds for works connected to the main lot sold and the amount of the last contribution made to the fund by the selling co-owner for his lot.
* Detail on current news about ALUR LAW - Article 54 / Commitment to sell condominium lots - Enforced on 27/03/2014
The means of service of the attached documents to the commitment to sell a condominium lot are simplified in particular with the order of August 27, 2015, which, in addition to some simplification regarding the documents to be delivered, now authorizes the replacement of the attachment of the many documents by their delivery prior to the completion of the deed, including in their dematerialized form if the purchaser agrees.
When the documents are given prior to the execution, one should pay attention to mention this delivery in the deed, running the risk of not having the cooling-off period start immediately.
Extension of the period to back-out / cooling-off period
Among the many modifications brought by the Macron law, we will remember that the law maker chose to extend from 7 to 10 days the right to back-out and the cooling-off period provided by article L 271-1 of the Construction and Housing Code (Law 2015-990 of 6-8-2015 art. 201, II). The change shows a wish to get closer to this cooling-off period of 14 days applicable in case on consumers' law.