Legal Questions

What is a conditional contract of sale?

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The fulfillment of the suspensive condition, which is the full payment of the purchase price, will not automatically transfer ownership to the buyer although the property may have been previously delivered to him. The prospective  vendor  still has  to  convey  title to  the prospective buyer by entering into a contract of absolute sale.  While in a conditional contract of sale, the fulfillment of the suspensive condition renders the sale absolute and affects the seller’s title thereto such that if there was previous delivery of the property, the seller’s ownership or title to the property is automatically transferred to the buyer.

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