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.