Contract Validity and Transfer of Ownership Upon Consent

A lower court, in ruling on a dispute over the validity of a contract for the sale of property, incorrectly applied the law regarding the transfer of ownership, specifically by failing to recognize that the contract itself, when duly executed, immediately transfers ownership to the buyer upon the exchange of consent, regardless of any subsequent physical delivery or formal notarial deed. The higher court overturned the lower court's decision because the reasoning incorrectly predicated the transfer of ownership on the fulfillment of later formalities rather than on the definitive moment of contractual agreement.