Right of emption

Author : Kristen

Right of emption

The right of emption gives the contractholder the ability to acquire a property at a later date under the conditions stated in the contract.

It is possible to annotate this right at the land register over a maximum period of 10 years. The right of emption contract must be in the form of a notorial deed.

If no other agreement can be reached, the contractual right of emption is able to be passed on via inheritance, but it is not assignable.

The right of emption holder can exercise his right with a simple written declaration. Moving forward, it will not be necessary to close a sales contract or to seek the intervention of the person who accorded the emption right.

Other legal definitions

 

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