Legal definitions

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Author : Kristen

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

 

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