I hear the cries of private buyers who are unable to bear the financial burden resulting from the suspension of a project and its duration beyond what was promised and beyond reasonable. I find that such a private purchaser should not be bound by the other purchasers whom he did not know and about whom he did not know and should not have known at the time he made the purchase. Such a purchaser entered into the transaction out of considerations that took into account a specific delivery date and not two years later. Such a purchaser believed that his investment was guaranteed by"10 Guarantee The Sale Law in his hand. He must be allowed to realize it.
- In our case, even if we go by the late date for the completion of the project that the financing bodies claim, April 2026, and especially if we go by the earlier date agreed to by the financing bodies May 2025, in any case, it is clear that the date of November 2027 that the receiver specified as the estimated delivery date of the project (with Grace) constitutes a significant delay.
In my opinion, such a delay justifies the application of guarantees The Sale Law They are held by the Dekel and Sidi families.
Conclusion:
- From the above, I state as follows:
- The project ran into difficulties, and it is not for nothing that I agreed in my decision of May 4,2026, to the request of the financing bodies to appoint a receiver.
- The receiver has formulated an outline according to which the project will be completed as long as there are no further disruptions, with Grace, in November 2027.
III. The Dekel and Sidi families, each of whom purchased independently and individually three new apartments in the project, expected to receive a contractor at an earlier date. I determine that these are circumstances that constitute a fundamental violation of the terms of the purchase, which justify the cancellation of the contracts and restitution by way of forfeiture of guarantees in accordance with the provisions Section 2(1) The Sale Law (Apartments) (Securing Investments of Apartment Buyers)"1974. In my opinion, this section of the law should be interpreted in a broad manner while adapting it to the freedom of contract and the interest of the private purchaser who did not acquire his rights in the framework of a collective.
- I find that the appointment of the receiver and the significant delay that occurred in the delivery of the apartments justify acceding to the requests of the Dekel and Sidi families to cancel the contracts and demand the forfeiture of the guarantees.
- At the same time, the other six purchasers of the developer's apartments, who wish to continue with the existing format and maintain the contracts they signed, are entitled not to demand the forfeiture of the guarantee. The forfeiture of the guarantees of the Dekel and Sidi families, who are interested in doing so, should not be linked to the forfeiture of the guarantees of the other six purchasers.
- This regulates application number 16. The Secretariat will classify it as final.
VII. I am allocating a time limit for the forfeiture of the guarantees until October 11,2026. This date was set in view of the recess period and the Tishrei holidays.