Right of purchase
The right of purchase is a contract that gives its holder the power to buy a property in the future. The right of purchase (or pre-contract) does yet bring forth a transfer of property.
The right to require a later conclusion of the sales contract is not considered a real right.
If the real estate property is sold to a third party before the planned conclusion of the sales contract, this party becomes the owner ipso jure. The seller will still be indebted for damages and interests in the pre-contract part of the agreement.
The right of purchase on a later property acquisition is only valid if it is in the form of a notorial act. However, it does not need to be registered at the land register.
Other legal definitions
- Right of emption
- Right of pre-emption
- Right of redemption (repurchase option)
- Donation, Exchange, Estate distribution
- Acquisition of property by operation of law
- Land properties
- Co-ownership share
- Right of land occupancy
- Land register
- Real estate collateral
- Statutory mortgages