Morocco: Changes for real estate transactions

In Morocco, changes have been made to certain provisions of the Code of Real Rights, notably Article 4. Here is what will change for real estate transactions.

Article 4 of the Code of Real Rights now stipulates that “sales agreements or powers of attorney relating thereto must be subject to contractual formalism. They must be drawn up in an authentic deed or in a deed with a specific date drawn up by a lawyer approved by the Court of Cassation, unless a specific law provides otherwise.” It is mandatory to sign the deed drawn up by a lawyer and all its pages referred to by the parties and by the person who drew it up, it is reported Finance News Weekly.