Legal
Breyne Act
Law protecting the buyer of a property to be built or under construction.
Full definition
The Breyne Act (1971, amended) protects buyers of properties to be built or under construction (off-plan purchase, turnkey). It requires: a fixed global price, payment schedule linked to work progress, provisional and definitive acceptance, and a completion or reimbursement guarantee.
Related terms
Property developer
Professional who designs, finances, and executes property construction or renovation projects.
Ten-year warranty
Liability of contractor and architect for 10 years regarding serious structural defects.
Sales agreement
Preliminary contract binding buyer and seller in a real estate transaction.
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FAQ
Law protecting the buyer of a property to be built or under construction.