Third party wanting to acquire a share in indivision? | ScriptaLegal
Personal Law Business Law Packages & Subscriptions
Français About us Create a free account Log in
Interactive legal guides Legal frequently asked questions Legal blog Videos
ONLINE LEGAL DOCUMENTS
Frequently asked questions > Co-ownership/Condominium > Undivided co-ownership > What to do if a third party wishes to acquire a share in indivision?

What to do if a third party wishes to acquire a share in indivision?

Unless otherwise stated in the indivision agreement, the undivided co-owner without having at first received the approval of all the undivided co-owners is therefore exposed to see his share redeemed and so to be excluded from the indivision.

However, it is possible to avoid being imposed an unwanted undivided co-owner and having to resort to this right of withdrawal by inserting a "right of pre-emption" clause in the indivision agreement. This "right of pre-emption" obliges the undivided co-owner wanting to sell to offer at first his share to his co-owners before offering it to purchasers who are strangers to the indivision. The remaining co-owners will thus have the possibility to redeem the share of the seller before it is the subject of a sale outside the indivision.

This browser does not support this kind of file. Please download the file to view it: Download the file