Which legal text governs off-plan sales (VEFA) of homes in Morocco?

1. Law 67-12, as amended in 2016
2. Law 31.18 on powers of attorney
3. Law 44-00, as amended by Law 107-12, inside the Code of Obligations and Contracts
4. Law 80-14 on tourist accommodation

A developer in Tangier wants to start taking VEFA reservation contracts for a new tower. What must he have before any reservation contract is valid?

1. The building permit for the project
2. The occupancy permit (permis d'habiter)
3. Completed ground-floor foundations
4. Signed reservations covering 30% of the units

Under the VEFA text in force since Law 107-12, from what point can the preliminary sale contract (contrat préliminaire) be signed?

1. Only once the ground-floor foundations are finished
2. Only once the structural work (gros oeuvre) is finished
3. Only once the developer has sold half of the units
4. As soon as the building permit is obtained

Who can draw up a valid VEFA preliminary contract in Morocco?

1. The developer's sales office, on its own letterhead
2. A notary or two adouls, as an authentic deed
3. Any real estate agent who holds a signed mandate
4. Only the land registry (conservation foncière)

Example figures: a Casablanca flat is sold off-plan for MAD 1,200,000 and the buyer signs a VEFA reservation contract. What is the maximum the developer can ask at that signature (in MAD)?

Example figures: an off-plan flat in Rabat costs MAD 1,500,000. The buyer signed a reservation contract, then a preliminary contract, and works have now started. Following the legal schedule, what is the most he can have paid in total at this point (in MAD)?

In the legal VEFA payment schedule, 60% of the price is spread over three construction stages. Which three?

1. Excavation, foundations, roof
2. Ground-floor foundations, structural work of the whole building, finishing works plus the occupancy permit or certificate of conformity
3. Each third of the building's floors
4. Permit, structural work, key handover

Example figures: a villa in Marrakech is bought off-plan for MAD 2,000,000 under a VEFA contract that follows the legal schedule. How much is still due at the final contract and key handover (in MAD)?

Ten days after signing a VEFA reservation contract, your client changes her mind. What does the law give her?

1. Nothing: the deposit is lost once the contract is signed
2. A partial refund, minus a 15% indemnity
3. A refund only if the developer finds another buyer
4. She can withdraw within one month of signing and the developer must refund the full amount within 7 days

A sales office asks your client for a MAD 50,000 cheque against a simple 'bon de réservation' receipt, with no reservation or preliminary contract. What is the right advice?

1. Do not pay: a payment made before a proper reservation or preliminary contract is void under the VEFA law, and a receipt gives almost no protection
2. Pay, because a receipt has the same value as a reservation contract
3. Pay in cash instead, so the amount is not traceable
4. Pay, as long as the amount stays under 10% of the price

After the preliminary contract is signed, what must a private developer set up for the buyer?

1. A rental guarantee on the finished unit
2. A life insurance policy in the buyer's name
3. A completion guarantee for the works, or a guarantee refunding the instalments paid
4. A mortgage on the developer's head office

A client wants to check that the developer really controls the land of an off-plan project. Which document shows this best?

1. The project brochure and the show flat
2. The land title (titre foncier) and its record at the conservation foncière, together with the building permit
3. The developer's Instagram page
4. A letter from the sales manager

On a titled plot, your VEFA buyer has paid more than 50% of the price. What can he ask the land registrar to record, to protect his rights?

1. A full transfer of ownership
2. A cancellation of the developer's title
3. A rental lien on the building
4. A prénotation, based on his preliminary contract

Which conditions must be met before the final VEFA sale contract can be signed?

1. Structural work finished and 80% of the price paid
2. Occupancy permit or certificate of conformity issued, separate land titles created (for titled land) and the balance paid, with an architect's completion certificate
3. Only the payment of the balance
4. Delivery of the keys and one year of occupation

A developer sees he will miss the VEFA delivery date. What extra time can he get under the law?

1. Up to 6 months, if he notifies the buyer at least one month before the original deadline
2. Up to 12 months, with no notice needed
3. Unlimited time, as long as works continue
4. Up to 24 months, with the land registry's approval

Under the VEFA law, what indemnity can a buyer claim from a developer who is late on the works?

1. A flat 5% of the price, paid at delivery
2. 2% per month with no cap
3. 1% per month of the sum due, capped at 10% a year, starting one month after a formal notice
4. Nothing, delay penalties are not allowed in Morocco

Example figures: the developer misses the agreed delivery date (extension included) and the buyer, who has paid MAD 480,000, terminates the VEFA contract. What indemnity can he claim on top of the refund (in MAD)?

A VEFA buyer wants to sell his position before the building is finished. What does the law say?

1. It is forbidden until the final contract is registered
2. It only needs a private letter between the two buyers
3. The developer must buy the unit back at the original price
4. He can assign his rights to a third party, with the same formalities as the reservation or preliminary contract, and it binds the seller once he is legally notified

Which buyer qualifies for Morocco's direct housing aid (2024 to 2028 programme)?

1. A French investor buying a second flat to rent out
2. A Moroccan living in Belgium who owns no home in Morocco, buying a first-sale flat priced MAD 650,000 including tax as his main residence
3. A Moroccan who already owns a flat in Fes, buying a second one in Rabat
4. A Moroccan buying a resale flat built in 2015 for MAD 400,000

Example figures: an eligible Moroccan first-time buyer buys a new flat priced MAD 450,000 including tax and receives the state direct housing aid. How much of the price remains for him to fund (in MAD)?