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Right which entitles a co-owner to purchase, before any other person, the fraction (divided co-ownership) or the undivided share (undivided co-ownership) that another co-owner wishes to sell. This right is generally found in the declaration of co-ownership of small immovables as well as in indivision agreements. It is also known as "preemptive rights" or "pact of preference".
25/03/2024
Parking spaces designated as private portions are common in divided co-ownership; this specific legal status is granted to them by the declaration of co-ownership, which identifies them as fractions in the section dedicated to the description of the fractions. Similar to an apartment held in co-ownership (condominium), all parking spaces have a…...
16/12/2023
At the signing of the deed of sale before the notary, an authentic copy of the declaration of co-ownership must be remitted to you.In order to maintain the stability of this contractual framework, every purchaser undertakes, by signing his deed of purchase, to abide to the declaration of co-ownership and…...
13/12/2023
In undivided co-ownership,, withdrawal and preemption rights can disrupt the course of a real estate transaction. It is important to understand that in this type of co-ownership, other co-owners may have priority over a potential buyer. The latter's property title could be uncertain for a certain period: a buyer who…...