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An executive order amending Article 73-Quarter of the Federal Consumer Protection Law was published in the Federal Official Gazette on January 18, 2012 to become effective the following day. The amendment provides that any transaction involving a land developer, constructor, promoter or other person providing assistance or selling to the public real estate for housing must include an offer to the consumer of a warranty for not less than five years with respect to structural defects, three years for roof waterproofing, and one year for all other defective items, on the understanding that such terms will be counted as of the delivery date of the real estate.

These provisions will apply to any transaction that is entered into after the effective date of such amendment.

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