About justification of the statutory pre-emption right of a co-owner of immovable property

Abstract

Pre-emption right, at the same time, can be regarded as limitation of the co-owner's freedom to dispose of his share, and as a part of the legal mechanism which leads to the 'relaxation' of a complex social relationship. When examining reasons thatfavour the existence of a statutory pre-emption right of a co-owner, one ought to commence with the legal position of the co-owner - seller. Indeed, one ought to assess if the optimal protection of his economical interests has been compromised by favouring other co-owners as buyers. In the given context, this article enumerates reasons that justify the subsistence of the statutory pre-emption right of the co-owner.

Keywords

• co-ownership
• statutory pre-emption right
• economical interest of the co-owner - seller
• reasons that justify favouring of the co-owner as buyer