Who can become a guarantor Who is the guarantor for the termination of the contract of sale

The contract of sale is drawn up based on the wishes of the buyer and the seller, as well as in connection with the legislation of the country.

In this case, both parties can terminate the agreement and demand a refund of funds or property. The participants of the purchase and sale apply to the court, and if the latter declares the transaction invalid, the buyer is obliged to return the apartment, and the seller-the money.

However, if the property is returned to the seller without changes, since nothing can be done with it, the buyer may face a lack of money from the seller.

The problem of the buyer

Having terminated the contract, the court decides to return all the money to the buyer, but if the seller does not have the funds, the buyer only gets the right to pay. That is, according to the law, the seller is not obliged to pay the funds right now, but can stretch the process for a long time, even for several years. In this case, the apartment is immediately transferred to the hands of the previous owner.

As a result, the seller is in a better position, since the apartment is not going anywhere, and he gets it right away. And this is a serious problem for the buyer, because the funds accumulated over a long time will essentially disappear. The money will not be returned quickly, and perhaps the buyer needs it now.

A new resolution

This injustice existed until December 24, 2020. It was on this day that the resolution of the Plenum of the Supreme Court of the Russian Federation was approved, equalizing the position of all participants in the purchase and sale.

Now the contract provides for a special condition in the event of termination of the agreement by the court-the guarantor is obliged to return all the funds to the buyer who canceled the transaction, if the seller is not able to return.

Any third party, whether a relative of the seller, his close friend or another person, can act as a guarantor. If there is no such person, the seller himself acts as a guarantor. A contract signed without a guarantor is not possible. At the same time, do not forget to specify the terms of the refund.

If the guarantor is a third party, and not the seller, it is better to draw up a separate contract. Unfortunately, even in this amendment to the law on purchase and sale, you can find loopholes: there is a system of declaring the guarantor insolvent, and the buyer may again face problems with refunds.

However, in the future, new clauses in the contract are planned, regulating the transfer of the apartment and the return of money on equal terms.