Short answer. Yes. Article 1591 of the Civil Code provides that if the seller has reasonable grounds to fear the loss of the immovable property sold and its price, the seller may immediately sue for rescission of the sale without waiting for default or going through the ordinary rescission procedure.
What the law says
Should the vendor have reasonable grounds to fear the loss of immovable property sold and its price, he may immediately sue for the rescission of the sale. Should such ground not exist, the provisions of article 1191 shall be observed.
Civil Code, Article 1591 — Seller's Rescission for Fear of Loss. Read the full provision →
Immediate rescission when the seller fears double loss
Article 1591 of the Civil Code gives sellers of immovable property a special right when they face a particularly dangerous situation: Should the vendor have reasonable grounds to fear the loss of immovable property sold and its price, he may immediately sue for the rescission of the sale. The key phrase is both the property and the price. A seller who fears that they will end up with neither — that the buyer will not pay and that recovering the property will be impossible — can go directly to court for rescission without waiting for a default or delay period.
Reasonable grounds to fear: what this requires
The right of immediate rescission under Article 1591 is conditional on the seller having reasonable grounds to fear the loss. This is an objective standard — not mere anxiety or suspicion, but a basis grounded in facts. Circumstances that would support a reasonable fear include the buyer's insolvency, creditors threatening to levy on the property before payment is made, transfer or encumbrance of the property to third parties in a manner that threatens the seller's interest, or other concrete signs that the seller risks losing both the property and the payment. The seller cannot rescind simply because they have changed their mind about the transaction.
The alternative when reasonable grounds are absent
Article 1591 also addresses what happens when the seller does not have this reasonable fear of double loss. In that situation, the ordinary rescission rules apply: Should such ground not exist, the provisions of article 1191 shall be observed. Under Article 1191, the right to rescind in reciprocal obligations arises when one party does not comply with what is due from them. The injured party can choose between demanding fulfillment and seeking rescission, in both cases with the payment of damages. The court also has discretion to fix a period for compliance rather than immediately ordering rescission. The special rule of Article 1591 removes this court discretion when the double-loss risk exists — the seller gets immediate rescission.
This rule applies to immovable property
Article 1591 specifically covers the sale of immovable property — land and buildings, not movables or personal property. The heightened protection is appropriate for immovables because they are typically high-value assets where the risk of double loss — losing both the land and the payment — can be financially devastating. For sales of movables, the seller would need to follow the general rules for enforcement and rescission of contracts. If you are a seller of land or real property and face a situation where both the property and the price are genuinely at risk, Article 1591 is the provision that supports your right to act immediately.