Abstract
Nowadays, one of the biggest social problems is the forward sale of condominiums. In this light, a simple visit to civil courts easily makes the fact clear: for example, a purchaser who has consecutively paid the condominium installments but the seller has not met the purchaser’s expectation by failing to complete the construction or a seller who has fulfilled his obligations but the purchaser has defaulted on timely payment of installments and so on. If we pay attention to the root of these conflicts, we will realize that most of the disputes in this area are due to lack of awareness by the parties to a forward sale contract and improper draft of the contract. Generally, the damages and losses incurred by persons are redeemable by operation of the law or the contract. With respect to forward sale contracts for condominiums, however, the agreements between individuals concerning damage assessment has been restricted following the approval of Forward Sale Act. This means that if the parties do not stipulate certain damages for delay or non-fulfillment of an obligation or estimate the said damages lower than the legal limit in the contract, the interested parties can invoke the law for indemnification.
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