What rules and procedures must be taken into account when selling land...?

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… plots for the purpose of joint ownership (for example, the sale of land between co-owners)?

11.07.2023 10:18 374

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Photo of sikorsky.y.o Yaroslav Sikorsky

A plot of land can be alienated both to other co-owners and to other persons. At the same time, other participants in joint partial ownership have a preferential right to purchase a share in the right of joint partial ownership of the land plot being sold.

The seller of a share in the right of joint partial ownership is obliged to notify the other co-owners in writing of his intention to sell his share, specifying the price and other conditions on which he sells it. If the other co-owners have refused to exercise the pre-emptive right of purchase or will not exercise this right within one month from the day they receive the notice, the seller has the right to sell his share to another person.

If several co-owners have expressed the desire to purchase a share in the right of joint partial ownership, the seller has the right to choose the buyer.

In the event of the sale of a share in the right of joint partial ownership in violation of the preferential right of purchase, the co-owner may bring a lawsuit to the court for the transfer of the buyer's rights and obligations to him. A one-year statute of limitations applies to such claims.

04.10.2023 16:47

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