Section 132

Where a contract is made with a person for the transfer of immovable property to him for a consideration to be paid in whole or in part only subsequently to the execution of the contract, such contract does not operate to create any interest in or right over such property, unless the consideration consists of monthly or periodical payments of a rent, in respect of the property, or of a share of the rents and profits of such property, or of a sum of money charged by way of rent on such property, and the contract is expressed to be a lease or sub-lease of such property, or unless the time when a part of the consideration is to be paid has been agreed upon, and the party who is to pay that part of the consideration has agreed to sell the property to some other person, and the terms on which such sale is to be made have been agreed upon, and the sale is completed, and the property is transferred to the person to whom it is sold.