Private agreements on real estate ownership are valid. Under normal circumstances, as long as the parties reach a consensus voluntarily and the agreements signed privately comply with the provisions of laws and administrative regulations, they have legal effect. A contract, also known as a contract or agreement, is an agreement between equal parties to establish, change and terminate the relationship between civil interests and obligations. As a civil legal act, a contract is the product of the parties' agreement, and it is an agreement expressed by more than two parties.

Legal analysis

Once the contract is concluded, it has legal effect immediately, and there is a relationship of interests and obligations between the two parties; Or change or eliminate the original civil legal relationship. If one or both parties fail to perform their obligations under the contract, they will be liable for breach of contract according to the contract or the law. A contract is an expression of the will agreed by both parties, and it represents a legal document. If both parties sign a contract during the transaction, it means that both parties need to do things according to the contents of the contract and cannot violate the provisions in the contract. If one party enters into a contract by fraud or coercion, which harms the interests of the state, maliciously colludes with others, harms the interests of the state, the collective or a third party, covers up the illegal purpose in a legal form, harms the public interests, and violates the mandatory provisions of laws and regulations, the contract is invalid. If one party leads the other party to conclude a contract against its true meaning by fraud, coercion or taking advantage of others' danger, the injured party has the right to request the people's court or arbitration institution to modify or cancel it. The people's court or arbitration institution shall not revoke the request of the parties. An invalid contract or a cancelled contract is not legally binding from the beginning. If part of the contract is invalid and does not affect the validity of the rest, the rest is still valid. The invalidity, dissolution or termination of this contract shall not affect the effectiveness of the independent clauses on dispute settlement in this contract. After the contract is invalid or cancelled, the property acquired as a result of the contract shall be returned; If it is impossible or unnecessary to return it, it shall be compensated at a discount. The party at fault shall compensate the other party for the losses suffered as a result. If both parties are at fault, they shall bear their respective responsibilities.

legal ground

People's Republic of China (PRC) Civil Code

Article 119 A legally established contract is legally binding on the parties.

Article 490 Where the parties conclude a contract in the form of a contract, the contract is formed when the parties sign, seal or fingerprint it. Before signing, sealing or fingerprinting, one party has fulfilled its main obligations, and the contract is established when the other party accepts it. A contract shall be concluded in written form as stipulated by laws, administrative regulations or agreed by the parties. If the parties do not do this in writing, but one party has fulfilled its main obligations and the other party accepts it, the contract is established.