When a co-owner exercises a pre-emption right, they do so based on terms provided in a written notice. If it is later proven that the actual sale was concluded under terms more favourable to the buyer than what was stated in the notice, the co-owner…
When a co-owner exercises a pre-emption right, they do so based on terms provided in a written notice. If it is later proven that the actual sale was concluded under terms more favourable to the buyer than what was stated in the notice, the co-owners have a remedy. They may file a claim with the RDSC against the seller to seek compensation for the damage sustained. This protection prevents sellers from artificially inflating the price in the notice to discourage co-owners from buying the share.
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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