When selling or renting a property, or when transferring an inheritance, citizens are protected by the right of first refusal. When does it apply and what are the duties and obligations? This right is crucial to being able to redeem even a town hall
IN buying and selling a property or building and i successionthe exercise of right of first refusal. According to Italian law, it is the right of one subject that, other things being equal, is preferred over another in connection with a legal transaction. Remember that too legal transaction means the act by which the private individual is authorized by the legal system to regulate individual interests in relation to other subjects. Thus, when selling a property or transferring inheritance after the departure of the owner of this property.
The preferential right therefore applies in two specific areas. It is in:
- Right to inheritance
- Right to rent
Right of pre-emption by inheritance
When the owner of a property dies, the heirs are protected by the right of pre-emption. This means that the co-heir who wishes to dispose of his part of the inheritance or part of it to a stranger must notify the intended disposal, stating the price, to the other co-heirs who have the right of first refusal. . This right must be exercised within the term of Two months since the last message. In the absence of notification, the co-heirs have the right to redeem the share from the buyer and from any subsequent heir, as long as the community of inheritance continues.
If the co-heirs intending to exercise the right of redemption are more than one, the share is transferred to all in equal parts, unless otherwise specified by the owner in a legal will.
Right of pre-emption in the Tenancy Act (rent)
The lease is a contract whereby one party (the lessor) undertakes to another (the lessee) to make a movable or immovable property enjoyable for a given time and for a specific consideration. Simply put, in the real estate world, it’s a lease.
Article 38 of Act No. 392 of 27 July 1978 allows for a right of first refusal even when renting a property. The right of first refusal is only granted if the landlord (the person renting the property) decides not to extend the lease at the first expiry of the contract because he intends to sell the property. At that time, the person who lives in the rented property can exercise the right of first refusal.
This applies to both houses and commercial properties. But this right includes obligations on both sides.
Obligations in the right of pre-emption
- The person or tenant who has rented the property (technically called leader) can exercise the right of first refusal as soon as the owner informs him that the property is for sale. But it can do so within 60 days of receiving notice from the owner accepting the proposed terms of sale. If the tenant does not give his answer within 30 days of the notification, he loses the right of first refusal. It is as if he had given up on sales.
- The landlord must communicate the sale. When it does not, it violates the right of first refusal. In this case, the lessee (or lessee) has the right of redemption. It can redeem the property within 6 months from the registration of the sale and pay the price of the purchase of the property to a third party. Otherwise, the tenant can take legal action to obtain compensation only for the damage caused by the failure to purchase.
When the right of first refusal is not valid
The right of first refusal cannot be used when the sale is for the benefit of the owner’s lessor’s spouse or next of kin. Furthermore, the intended right of first refusal goes to the benefit of the co-heirs rather than the intended right of first refusal for the tenant.
In connection with commercial letting, the right of first refusal does not apply if the property is intended for the exercise of commercial activities, if the property is used by the state or another public body, and if the property is used for recreation, welfare, culture. , educationally or is the seat of parties and trade unions.
The right of first refusal is also stipulated in the right of redemption in favor of those who live social housing.