According to Article (15), a co-owner wishing to exercise their pre-emption right must notify the seller within thirty (30) days of receiving notice via a notary public. Once the intention is notified, the purchaser must finalise the sale procedures…
According to Article (15), a co-owner wishing to exercise their pre-emption right must notify the seller within thirty (30) days of receiving notice via a notary public. Once the intention is notified, the purchaser must finalise the sale procedures with the DLD within ten (10) working days. Failing to meet this strict deadline results in the forfeiture of the right to purchase. This ensures that the sale of property interests is not indefinitely delayed by hesitant co-owners.
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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