1791.1. Notwithstanding any agreement to the contrary, any deposit paid to a builder or a developer toward the purchase of a fraction of an immovable under divided co-ownership must be fully protected by one or more of the following means: a guarantee plan, insurance, a suretyship or a deposit in a trust account of a member of a professional order according to the terms and conditions determined by government regulation.
The deposit may also be protected by another means prescribed by government regulation, in accordance with the terms and conditions it determines.
The deposit is returned to the person who paid it if the fraction of the immovable under co-ownership is not delivered on the date agreed upon in accordance with the terms and conditions determined by government regulation.
2019, c. 282019, c. 28, s. 661; 2021, c. 72021, c. 7, s. 1112021, c. 72021, c. 7, s. 1122021, c. 72021, c. 7, s. 113.
Concerning the deposit in a trust account, see 2019, c. 28, s. 165(9).