There is a certain period of time between the signing of the compromis and the deed of sale, during which the vendor remains in possession of the property. The condition of the property must be similar to that in which it was at the time of the compromis, and in accordance with what was promised.
The vendor may not therefore make any changes that could alter its condition. In addition, the seller must take all reasonable care of the property.
The vast majority of property sales provide for the transfer of enjoyment at the same time as the transfer of ownership, i.e. at the time of the deed of sale.
However, in some cases, enjoyment of the property may be anticipated or deferred.
For example, between the preliminary sale agreement and the final sale of a flat or house, the purchaser may wish to use the property before becoming the final owner. This is done by occupying the premises, carrying out work or storing furniture. Conversely, the seller may wish to stay for some time in the property that he no longer owns. In the latter case, this is known as deferred enjoyment.
Early or deferred enjoyment and transfer of risks
The transfer of property risks (fire, water damage, explosion, etc.) is linked to ownership, unless otherwise agreed. Where enjoyment of the property differs from the transfer of ownership, it may be advisable to make the transfer of risks coincide with the transfer of enjoyment.
In this way, the owner who does not enjoy the property will not have to bear the risks.
An agreement on the transfer of risks should go hand in hand with prior contact with the insurance company. The party assuming the risks must be insured to avoid any problems.
Early or deferred enjoyment and modification of the property
In addition, because preliminary sales agreements are often signed subject to certain conditions precedent, the most common of which is obtaining a loan, it is not uncommon for the final sale not to go through. For this reason, it is best to avoid the buyer carrying out any work before the final deed of sale is signed.
If the buyer does wish to carry out work, the compromis, or an amendment to the compromis, should specify the extent of the work and the terms and conditions in the event of problems (reimbursement, repair, deadlines, penalty payment, guarantee, etc.).
Special features of deferred enjoyment
In the case of a sale where the purchaser's use of the property is deferred until a later date, it is also useful to provide a guarantee to ensure that the premises are vacated on the agreed date. For example, part of the sale price could be sequestered by the notary until the vendor actually vacates the premises. Similarly, the duration, rights and obligations of the vendor who reserves the right to use the property after the sale must be defined. Finally, it should be remembered that deferred enjoyment entails an additional cost to the purchaser, which must be quantified in the deed of sale.