The right of pre-emption defines the precedence of a peculiar individual to acquisition movable or immovable property under contract between him and the seller. All provisions on this issue are regulated in the civilian Code. Who precisely is the law and how does it work? We answer.
What is the right of preemption?
The right of pre-emption gives the individual afraid precedence in acquiring movable property or property erstwhile their owner decides to sale it. Regulations relating to this right are contained in the civilian Code, according to which ‘If a bill or legal act reserves for 1 of the parties precedence to buy a marked item in case the another organization sells the item to a 3rd organization (the right of preemption), the provisions of this Chapter shall apply in the absence of circumstantial provisions.’
The right of pre-emption can only be activated if the owner intends to sale his property, so it does not apply to another forms of disposal, specified as donations.
Who is entitled to a first purchase?
The right of pre-emption may be granted to persons under contract terms, frequently found in lease, lease or sale contracts. It may besides consequence from the Act, with local government units, co-owners, tenants (in the case of agricultural properties) or the State Treasury.
How does the Law of Preemption work?
The right of pre-emption may be included in the contract, in accordance with the civilian Code: ‘The substance covered by the right of pre-emption may be sold to a 3rd organization only on condition that the right to pre-emption is not exercised’.
The rightholder must decide to exercise his or her right within a specified time limit which may be monthly (in the case of immovable property), weekly (in the case of movable property) or another time limits if he or she has been defined in advance. The right to pre-emption shall be inalienable and indivisible unless otherwise provided for in the peculiar provisions.
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Daniel Głogowski
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