Glossary entry

French term or phrase:

acte de vente à terme-emption

English translation:

record of forward, call-option sale

Added to glossary by Adrian MM.
Sep 24, 2019 12:51
4 yrs ago
9 viewers *
French term

acte de vente à terme-emption

French to English Law/Patents Real Estate Swiss Real Estate
This appears in a "Requisition" - a Swiss real estate document. Obviously its' the "à terme-emption" part I'm unsure about. Any help would be appreciated.

The full context is:

Mr X, qui agit en vertu de la procuration datée du XXXX, dont une copie conforme est annexée à l'acte de vente à terme-emption, inscrit sous numéro YYYY
Change log

Feb 16, 2021 10:30: Adrian MM. Created KOG entry

Discussion

Francois Boye Sep 26, 2019:
Switzerland is more complicated that we think:

https://iclg.com/practice-areas/real-estate-laws-and-regulat...
Adrian MM. Sep 25, 2019:
@ Eliza - prelim. = prior to conveyance In many countries (e.g. Spain: contrato privado de compraventa and then ending up as a registrable and dutiable escritura publica) the contract of sale of land is prior or 'preliminary' to the conveyance or transfer of land (CH > la mutation immobilière https://www.ch.ch/fr/droits-de-mutation/). In the UK, the doctrine of merger means that the prelim. contract is merged into the conveyance on completion.
Eliza Hall Sep 25, 2019:
@ Adrian - not preliminary A contract for the sale of real estate is a contract for the sale of real estate. They're always signed before the title and land are conveyed to the buyer. That doesn't make them "preliminary" -- they're final, complete contracts with all terms included.
B D Finch Sep 24, 2019:
@Asker Forget what I just wrote, which I have deleted, as it was wrong.

Yes, that does seem OK.

"Forward sale: a sale in which the transfer of ownership and the payment of the sale price are deferred. ... PAYMENT The buyer must pay a deposit to the notary before signing the deed of sale. The deposit generally represents 10% to 20% of the sale price.
how to buy in switzerland - John Taylor"
www.john-taylor.com › pdf › How_to_buy_CH_uk

I think that is an alternative to my previous answer, i.e. "Forward contract with pre-registration of right to purchase".

Note that, when searching the KOG, it is worth trying bits of your source term separately.
Vivien Green (asker) Sep 24, 2019:
Thank you. That didn't come up when I searched although I'm not sure why. On the basis of the information there though can anyone tell me if "deed of forward sale with pre-registration of the right to purchase" would be acceptable?
Marco Solinas Sep 24, 2019:
To Asker Have you seen this? https://www.proz.com/kudoz/french-to-english/law-general/653...
Is it helpful?

Proposed translations

4 hrs
French term (edited): (CH) acte de vente à terme-emption
Selected

forward sale..... or (UK) preliminary contract for a sale of land on a purchase option

See the discussion entries: B.D. Finch's answer in Marco's ref.

acte de vente: contract of sale: conveyance; registered transfer (FHS Bridge).

Acte can also simply mean a document.

Compare to buy 'off plan' an unconstructed property.

'Deed of forward sale with pre-registration of the right to purchase': yes, OK IMO, but 1. I've never seen a forward sale outside of commodities, share option and futures and 2. would be contained in a prelim. agreement and not at the Deed stage in the UK (Purchase Deed is used for the post-option conveyancing stage of unregd. land vs. a Transfer Form used for regd. land). 3. Deed in the US routinely signifies a transfer of land.

Example sentence:

Off-plan property is a property before a structure has been constructed upon it.

The preliminary purchase and sale agreement is the first contractual tool whereby the parties intending to sell or purchase any real estate

Peer comment(s):

neutral Eliza Hall : I don't see anything "preliminary" about this. It's a binding contract to sell land on the terms set forth in the contract. And an acte isn't just any document; it's a legal instrument.
1 hr
I deliberately didn't write 'preliminary agreement to sell', but a later-stage prelim. contract of sale that anticipates a future conveyance, plus acte can also be a mere record or memorandum e.g. of deposit.
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4 KudoZ points awarded for this answer.
-1
7 hrs

sell forward contract with a proviso of subscription privilege/right

https://www.telegraph.co.uk/financial-services/currency-exch...



What does right of preemption mean?

Also called subscription privilege or subscription right. ... Contractual right under which a party has the first opportunity to buy an asset before it is offered to a third party. Compare with right of first refusal. Also called preemptive right or right of preemption.


Peer comment(s):

disagree AllegroTrans : "Subscription" is the term applied to shares; this is about real estate
2 hrs
Why be so categorical? Co-ownership of real estate is possible in Switzerland. In addtion, as said in my previous attachment, ownership of real estate has two different components in Switzerland: the building and the land.
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