RIGHTS OF PRE-EMPTION AND WITHDRAWAL
These are two legal rights that give certain persons the right to acquire a property before other purchasers. These rights can be granted by law or set out in a private contract.
The right of pre-emption is a right that allows a person to have the first opportunity to purchase a property before it is sold to another purchaser. The holder of the right has the option to purchase the property at the same price and on the same terms as offered to another purchaser. If the holder of the right decides to exercise his right, the vendor must sell the property to the holder of the right instead of the other purchaser.
The right of withdrawal, on the other hand, is a right that gives a person the right to purchase a property that has already been sold to another purchaser. In this case, the initial purchaser exercised his right to purchase, but the holder of the right of withdrawal has the opportunity to purchase the property at the same price and on the same terms as the initial purchaser.
Withdrawal is the right to subrogate oneself, with the same conditions stipulated in the contract, in place of the person who acquires a property by purchase or in exchange for payment.
Legal pre-emptive rights are those that are established, not between two persons voluntarily, but by the Law itself.
The following are foreseen:
- That of co-owners, to which the co-owners of a common property are entitled in the event of the alienation to a third party of the share of all the other co-owners or of one of them.
- That of adjoining owners, to which the owners of adjoining lands are entitled in the case of the sale of a rural property, intended for agricultural use and whose area does not exceed one hectare.
- That of co-heirs, before the division of the inheritance.
- In emphyteusis, that of the direct owner and that of the emphyteuta, when they sell or give in payment their respective dominion over the emphyteutic estate.
- That of the lessee in urban leasing.
In the private context, these rights can also be agreed between the parties to a contract. For example, in a lease-purchase contract, the tenant can agree with the landlord to have the right if it is decided to sell the property while the tenant is still in possession of it.