Kick-out clause

Kick-out clause – this term is used mostly in Contracts & Obligations Law, where means basically that the party has a right to modify an agreement. In some jurisdictions this term refers to a clause implemented in real estate sale contracts, allowing the property seller to pull out of the contract if a better offer is applicable. Such a clause is not acceptable in private purchase contracts in some countries, because the intention there is namely to keep the reached agreements between the parties valid. In the years of increased off-plan property sales in developing countries like Bulgaria, there have been many non-honest local developers who have not obeyed their initially signed preliminary contracts namely because accepting illegally some better offers by other buyers on a later stage. It is advisable to consult with an independent property lawyer before concluding a private purchase contract for off-plan property in Bulgaria.

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