Vendor's Right of Redemption vs. Subsequent Purchaser: Formalities Requirement

A vendor, having agreed to sell a building to a purchaser subject to a stipulation for the vendor's right of redemption, subsequently sold the same property to a third party without adhering to the required formal conditions for rendering the prior stipulation opposable to this subsequent purchaser, even though the third party was aware of the initial agreement. The court affirmed the decision rejecting the initial purchaser's claim, reasoning that for a right of redemption stipulation to be effective against a third-party purchaser, it must be duly registered prior to the subsequent sale, and mere knowledge of the prior agreement by the third party is insufficient to overcome the lack of proper publicity required by law.