Right of first refusal and withdrawal - housing

Right of first refusal and withdrawal (housing), it is a preferential right. For example, in the case of the rental of housing governed by the Urban Leasing Law of 94. A tenant has the right of first refusal and withdrawal if the tenant wants to sell the house.

The right of first refusal

It is a preferential acquisition right whose owner is empowered to acquire, in preference to any other person, a home that will be alienated by its owner to a third party for the same price that that third party would pay. The owner is obliged to notify the owner of the right to I test your intention to sell as well as the conditions under which you want to do so.

- By example If a landlord wants to sell the home, the tenant has the first right to purchase over any other buyer.

The right of withdrawal

It is the right to subrogate in the place of the buyer, acquiring the home that was the subject of the sale contract under the same conditions as the buyer, in whose position they subrogate, satisfying the same price plus the necessary expenses incurred in the sale of that home.

- By example A tenant would have the right of withdrawal in the event that they had not been notified of the sale, or it had been done but in an incorrect way (not meeting the 30-day period), etc ... That is, the tenant had not had the opportunity to exercise their right to first refusal.

Video: Real Estate RERA by CA Jyoti Sachdev Chokshi #EconomicLaw #Law

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