Statutory Pre-emption Right of the Properties Co-Owners
Statutory Pre-emption Right of the Properties Co-Owners
Prague, 12 February 2018
New amendments to the Civil Code of the Czech Republic has become effective starting with 1 January 2018. The most relevant rule relates to co-owner’s pre-emptive right in the event of a transfer of a share in co-owned property. Such pre-emptive right also applies to properties transfers without consideration, i.e. donation, but not to cases of real estate transferred to relatives.
A co-owner may waive his pre-emptive right by contract. If the property at hand is registered with the land register, a note must be inscribed that will provide the waiver of the pre-emptive right.
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