Return of pre-emption rights

Return of pre-emption rights to a share in the co-owner of real estate.

Just passed by only two votes, the amendment in approving the amendment to the Civil Code, which came into effect from 1 January 2018 returned a pre-emptive right to share in the co-owner of real estate. If the co-owner waives the subscription rights shall such information newly enroll in real estate.

Quote of the Act:

§ 1124

(1) Converts if the co-ownership on immovable property, co-owners have the right of first refusal, unless it is a transfer of a close person. Unless the co-owners on the exercise of the subscription rights, have the right to buy the share proportionally to the size of the shares.

(2) Paragraph 1 shall also apply in the event that one of the co-owners share transfers free of charge; if co-owners have the right to redeem the share for the usual price.

§ 1125

Venturer may waive the pre-emptive rights under § 1124 with effect for its legal successor. In the case of real property registered in the public register waiver of pre-emption rights to write to it.

What will mean the return to the pre-emptive rights for property owners?

Who will pay the most for a change?

The owner of land or other property is writing again obliged to offer to sell its stake further co-owners, who have two months to decide whether they will buy part of the property.

If the co-owners refuse the sale, its owner can sell to a third party. But if your share or sell to another buyer and price changes must again share first to offer joint owners with right of first refusal. The possible sale of the then wait another two months to addressing the co-owners to react.

"Changing completely prevent immediate sale of the property in the event that the owner needs because of the unexpected money immediately."

"If the owners intend to manage its assets, the State would in fact not be hampered. It's another unnecessary measure that people complicate life. "

"The return of pre-emption rights of co-owners do not consider it a step in the right direction, the more that nothing prevents the co-owners under the existing legislation, the pre-emptive right to modify the contract."

"The state should instead create new complications and peculiar legislative changes take place rapidly in areas that property owners actually burning. I am referring above all to simplify incredibly complex building permits and simplification of the tax burden on the sale of real estate. "

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