What are the arras?
It is the name given to the private contract signed by the buyer and seller before the Public Deed. An amount is given, as a signal, to reserve the right to the property that is to be transmitted. From this moment on, both the buyer and the seller are obliged to comply with the content of the contract.
There are three types of deposit:
- Warranty or confirmatory.
In Catalonia, the most common are penitentiaries. In this case, if it is the buyer who finally does not comply with the previously established contract, he will lose the amount agreed as a deposit or, if it is the seller, he will have to return double this amount.