Vacuum instruments and securing the performance interest

Abstract The question as to whether the buyer of immovable property should still be able to receive the ownership of the property in case the seller goes bankrupt prior to conveyance, has sparked academic debate in many jurisdictions. In the context of immovable property, many scholars feel it is justified to provide additional protective measures in favour of the buyer and hence provide buyers with some sort of proprietary interest, prior to conveyance. But exactly which circumstances justify these protective measures under current law? And what is the most desirable way to protect the buyer in terms of scope of application and effect? This article will answer these questions on the basis of a newly-developed theoretical framework.