VEFA (Vente en l'Etat Futur d'Achèvement)

Any sale of a building to be constructed as well as the land must be governed either by a contract of sale in the future state of completion, or by a contract of forward sale. Under the V.E.F.A., the purchaser immediately becomes the owner of the land and the buildings already constructed and the owner of the buildings to come as the work progresses.