Pre-emption right of a property developer for land.
March 29, 2012 | 30,00 EUR | answered by Bernhard Müller
Good evening,
We are interested in a property for which a developer currently holds a pre-emption right. However, this right will expire in 2 days.
We have agreed with the property owner that we can buy it directly from them after the expiration of the pre-emption right, as we would prefer to build with a different developer. We have already scheduled a notary appointment just to be on the safe side.
Today, the developer came back and apparently has found a buyer.
My question: Can the new interested party and the developer legally settle this in 2 days so that the pre-emption right still applies?
Thank you in advance for your response.
Best regards,
Marie Paul
Dear questioner,
A right of first refusal means that when a contract is concluded, the holder of the right of first refusal can enter into the contract on the same terms that were agreed between the seller and the buyer of the property, if the right of first refusal is not exercised.
This usually happens by including the exercise of the right of first refusal as a suspensive condition in the contract. The contract is then sent to the holder of the right of first refusal, who decides whether to enter into the contract.
According to your description, there is no contract yet in which the other party could enter, only a scheduled date for the conclusion of the planned contract.
Therefore, it is probably not possible for the right of first refusal to be exercised within the next 2 days.
Finally, I would like to point out that the answer is based solely on the information you provided. Adding or omitting details could change the legal assessment.
Yours sincerely,
Bernhard Müller, Attorney
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