Core Viewpoint - The recent case published by the Supreme People's Court regarding "unfinished buildings" highlights the legal rights of homebuyers to terminate both the property purchase contract and the mortgage loan contract when the developer fails to deliver the property on time and the project is halted, making the contract's purpose unattainable [1][2][9]. Summary by Sections Case Background - The case involves a property purchase agreement signed in December 2021, where the total purchase price was approximately 1.18368 million yuan, with a down payment of 433,680 yuan and a remaining loan of 750,000 yuan [4]. - By March 2022, the loan was disbursed, but by March 2024, the developer had not delivered the property, leading to the buyers seeking to terminate the contracts [5][6]. Court Ruling - The court ruled to terminate both the property purchase contract and the mortgage loan contract, requiring the developer to refund the down payment, interest, and the principal and interest of the loan already repaid by the buyers [6][7]. - The ruling emphasized the interconnectedness of the property purchase and loan contracts, allowing for a "package" resolution to avoid multiple litigations [2][8]. Legal Implications - The case illustrates that when a developer fails to deliver a property, the buyer can legally terminate the purchase and loan contracts, as the purpose of the contracts cannot be fulfilled [11][12]. - The ruling also sets a precedent for similar cases, indicating that courts may support the simultaneous termination of both types of contracts under similar circumstances [10][14]. Industry Insights - Legal experts note that this case may serve as a reference for future disputes involving unfinished buildings, particularly in balancing the rights and obligations of buyers, developers, and banks [13][15]. - The case's uniqueness lies in the specific circumstances of the project being halted and the developer's inability to deliver, which may not be present in all similar cases [14][16].