EXERCISE OF THE RIGHT OF PRE-EMPTION OVER THE GOODS

Abstract

As a method of application, the “protimisis” has known two variants: Pre-purchase (original version, of Byzantine origin), in the hypothesis that the person who wanted to sell an asset was obliged to make the privileged an offer of pre-emption (denuntiatio); if the privileged person refused this invitation to prepurchase or did not exercise his/her option within 30 days, the seller became free to sell to anyone. Repurchase (withdrawal) – hypothesis in which the seller had the obligation to sell to the pre-emptor, but could also sell freely to a foreigner, with the risk that the privileged person may exercise the right to repurchase the good at the real price within ten years. In terms of the seller’s breach of its obligation to make the pre-purchase offer to the pre-emptor, the sanction (withdrawal) was identical, regardless of the method of exercising the protimisis. Regarding the right of pre-emption in the light of the provisions conferred by the Civil Code, one can notice the legislator’s desire to provide the protection and the value corresponding to the right of ownership over the goods, making available to the holders of the right of pre-emption the possibility to benefit from an adequate means to give this right effectiveness and efficiency.

Keywords

• pre-emption right
• pre-emptor
• purchase priority