While co-owners of a unit generally have a pre-emption right to purchase a departing owner's share, certain family transfers are exempt. This right is not established if the share is sold or disposed of to ascendants, descendants, or a spouse. The e…
While co-owners of a unit generally have a pre-emption right to purchase a departing owner's share, certain family transfers are exempt. This right is not established if the share is sold or disposed of to ascendants, descendants, or a spouse. The exemption also extends to relatives up to the fourth degree and in-laws up to the second degree. This provision allows owners to keep property within their extended family without being forced to offer the interest to other non-related co-owners first.
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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