A pre-emption right is forfeited if a co-owner fails to agree to the terms of sale within thirty (30) days of receiving a formal notice. This notice must be served through a notary public and include the name and address of the third-party purchaser…
A pre-emption right is forfeited if a co-owner fails to agree to the terms of sale within thirty (30) days of receiving a formal notice. This notice must be served through a notary public and include the name and address of the third-party purchaser and the specific terms of the sale. The right is also lost if the co-owner declares their intent to buy but fails to complete the DLD registration within ten working days. This ensures that the selling co-owner is not unfairly delayed in disposing of their asset.
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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