If a co-owner of a unit decides to sell their share to a non-owner, the other co-owners have a pre-emption right to purchase that share instead. If multiple co-owners wish to exercise this right, each is entitled to buy a portion of the share propor…
If a co-owner of a unit decides to sell their share to a non-owner, the other co-owners have a pre-emption right to purchase that share instead. If multiple co-owners wish to exercise this right, each is entitled to buy a portion of the share proportional to their existing ownership in the unit. This right does not apply if the sale is to a spouse, descendant, ascendant, or relative up to the fourth degree. This legal mechanism helps maintain stable ownership within shared family or investment units.
This is general information from the website library. Confirm current rules, fees and property details with the relevant authority before acting.
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