Do you have a property you want to sell?
Be careful, it is important to know that there are situations in which the preemptive right when selling a property applies.
Find out here if this is your case and how you should proceed during the sales process.
PREEMPTIVE RIGHT:
Everything you need to know
Lounge Real Estate
july 2024
Source: UCI and Dourtor Finanças
Leased Properties
Owners of plots adjacent to the rural property they intend to sell have preemptive rights in the purchase of the property when the plot has an area smaller than the cultivation unit.
The preemptive right is provided by law. It obliges the seller of a property to communicate, in certain circumstances, their intention to sell to specific people or entities and, consequently, give them preference in the process of purchasing and selling the property.
In this context, the benefited people or entities must express their willingness to exercise, or not, their right to buy the property. In both contexts, in the process of buying and selling your property, you must ensure that you have a declaration or certificate relating to the exercise, or not, of this right.
When is there a preemptive right?
When is there a preemptive right?
When is there a preemptive right?
The law gives the preemptive right when purchasing and selling a property that fits one of the following situations:
Deadline to exercise the Preemptive Right
Deadline to exercise the Preemptive Right
Deadline to exercise the Preemptive Right
The sale of a property in which public entities have preemptive rights must be communicated through "Casa Pronta". In this context, the respective entities have 10 working days to express their interest in the property.
If it is a rented property, the tenant must be notified of your intention to sell by registered letter with acknowledgment of receipt, and he has 30 days to exercise their right of preference.
If the property you intend to sell has been rented for more than 2 years, be aware that the renter has preference when purchasing the property. To do this, you must inform the tenant that you want to sell the property and the sale price.
If you own a plot with other individuals, be aware that the other co-owners have preemptive rights when you sell your share of the plot.
Rustic Buildings
Co-ownership Regime
Surface Right
The surface right consists of the possibility of building or maintaining a construction or plantation on someone else's plot. If you want to sell your surface right, know that the plot owner has the preemptive right.
Disposal of Locked Building
If you have a building without access or with insufficient access to the public road, the owner of the servant building, that is, with the legal obligation to pass, can exercise his preemptive right when you decide to sell the dominant building.
Public Entities
The State, the Autonomous Regions, the Municipalities, and the General Directorate of Heritage may exercise their preemptive right in all real estate transactions. There is special emphasis on the sale of listed properties or those about to be listed, located in Urban Rehabilitation Areas or Protected Areas.
However, in the case of a leased property, the lessee's preemptive right overrides the preemptive right of Public Entities.
Do you have a property you want to sell?
Be careful, it is important to know that there are situations in which the preemptive right when selling a property applies.
Find out here if this is your case and how you should proceed during the sales process.
Do you have a property you want to sell?
Be careful, it is important to know that there are situations in which the preemptive right when selling a property applies.
Find out here if this is your case and how you should proceed during the sales process.
PREEMPTIVE RIGHT:
PREEMPTIVE RIGHT:
Everything you need to know
Lounge Real Estate
july 2024
Lounge Real Estate
july 2024
Source: UCI and Dourtor Finanças
Source: UCI and Dourtor Finanças
Leased Properties
Leased Properties
Owners of plots adjacent to the rural property they intend to sell have preemptive rights in the purchase of the property when the plot has an area smaller than the cultivation unit.
Owners of plots adjacent to the rural property they intend to sell have preemptive rights in the purchase of the property when the plot has an area smaller than the cultivation unit.
The preemptive right is provided by law. It obliges the seller of a property to communicate, in certain circumstances, their intention to sell to specific people or entities and, consequently, give them preference in the process of purchasing and selling the property.
In this context, the benefited people or entities must express their willingness to exercise, or not, their right to buy the property. In both contexts, in the process of buying and selling your property, you must ensure that you have a declaration or certificate relating to the exercise, or not, of this right.
The preemptive right is provided by law. It obliges the seller of a property to communicate, in certain circumstances, their intention to sell to specific people or entities and, consequently, give them preference in the process of purchasing and selling the property.
In this context, the benefited people or entities must express their willingness to exercise, or not, their right to buy the property. In both contexts, in the process of buying and selling your property, you must ensure that you have a declaration or certificate relating to the exercise, or not, of this right.
When is there a preemptive right?
When is there a preemptive right?
When is there a preemptive right?
The law gives the preemptive right when purchasing and selling a property that fits one of the following situations:
The law gives the preemptive right when purchasing and selling a property that fits one of the following situations:
Deadline to exercise the Preemptive Right
Deadline to exercise the Preemptive Right
Deadline to exercise the Preemptive Right
The sale of a property in which public entities have preemptive rights must be communicated through "Casa Pronta". In this context, the respective entities have 10 working days to express their interest in the property.
If it is a rented property, the tenant must be notified of your intention to sell by registered letter with acknowledgment of receipt, and he has 30 days to exercise their right of preference.
The sale of a property in which public entities have preemptive rights must be communicated through "Casa Pronta". In this context, the respective entities have 10 working days to express their interest in the property.
If it is a rented property, the tenant must be notified of your intention to sell by registered letter with acknowledgment of receipt, and he has 30 days to exercise their right of preference.
If the property you intend to sell has been rented for more than 2 years, be aware that the renter has preference when purchasing the property. To do this, you must inform the tenant that you want to sell the property and the sale price.
If the property you intend to sell has been rented for more than 2 years, be aware that the renter has preference when purchasing the property. To do this, you must inform the tenant that you want to sell the property and the sale price.
If you own a plot with other individuals, be aware that the other co-owners have preemptive rights when you sell your share of the plot.
If you own a plot with other individuals, be aware that the other co-owners have preemptive rights when you sell your share of the plot.
Rustic Buildings
Rustic Buildings
Co-ownership Regime
Co-ownership Regime
Surface Right
Surface Right
The surface right consists of the possibility of building or maintaining a construction or plantation on someone else's plot. If you want to sell your surface right, know that the plot owner has the preemptive right.
The surface right consists of the possibility of building or maintaining a construction or plantation on someone else's plot. If you want to sell your surface right, know that the plot owner has the preemptive right.
Disposal of Locked Building
Disposal of Locked Building
If you have a building without access or with insufficient access to the public road, the owner of the servant building, that is, with the legal obligation to pass, can exercise his preemptive right when you decide to sell the dominant building.
If you have a building without access or with insufficient access to the public road, the owner of the servant building, that is, with the legal obligation to pass, can exercise his preemptive right when you decide to sell the dominant building.
Public Entities
Public Entities
The State, the Autonomous Regions, the Municipalities, and the General Directorate of Heritage may exercise their preemptive right in all real estate transactions. There is special emphasis on the sale of listed properties or those about to be listed, located in Urban Rehabilitation Areas or Protected Areas.
However, in the case of a leased property, the lessee's preemptive right overrides the preemptive right of Public Entities.
The State, the Autonomous Regions, the Municipalities, and the General Directorate of Heritage may exercise their preemptive right in all real estate transactions. There is special emphasis on the sale of listed properties or those about to be listed, located in Urban Rehabilitation Areas or Protected Areas.
However, in the case of a leased property, the lessee's preemptive right overrides the preemptive right of Public Entities.
