Definition : Right of withdrawal

The right that allows any co-owner in an  undivided co-ownership to buy back the share another co-owner has sold to a third party (foreign person to indivision). This right of withdrawal  cannot be exercised when an  indivision agreement, published in the  Québec Land Register, contains a Right of first refusal.

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In undivided co-ownership, the rights of withdrawal and of first refusal may disrupt the course of a real estate transaction. It is important to know that other co-owners may take precedence over a potential purchaser.  The title of the latter could be precarious for some time: a buyer who acquires rights in an  undivided co-ownership  without first receiving the approval of all the undivided co-owners is therefore liable to have his share redeemed and thus be excluded from the indivision.    
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