Definition : Pre-emptive rights

A right which entitles the co-owners to purchase in priority a fraction which is put up for sale in the co-ownership.

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In co-ownership, the rights of withdrawal and of preemption may disrupt the course of a real estate transaction. In my practice, I had to intervene a number of times before proceeding with a sale, often to the astonishment (and sometimes displeasure!) of the parties, to safeguard their rights.
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