Since 1. 1. 2018, the right of first refusal of the co-owners of real estate, which had been deleted from our legal system from 1. 1. 2015, was reinstated. This modification is contained in the Civil Code, i.e. Act No. 89/2012 Coll., as amended. If there are transfers of real estate to which co-ownership is related, this change has to be considered and the duties connected with the right of first refusal of co-owners must be fulfilled.
However, the legal modification also contains exceptions in which the right of first refusal does not apply. These are the following:
- The transfer of the co-ownership share (e.g. during inheritance proceedings or in the event of a co-owner´s transformation via merger or division); and
- The transfer of the co-ownership share to a relative in the direct line, siblings, a husband, a partner according to the law governing registered partnership, other persons in a family or similar relationship if the damage suffered by one of them was reasonably perceived as a personal injury, persons related by marriage or persons who live together permanently (all of these aforementioned persons are considered to be close relatives under Civil Law).
The introduction of the right of first refusal is thus not absolute and, just as in the past, Act no. 89/2012 Coll., as amended governs the exceptions that are specified above and simplifies the transferral of shares within families.
If you need any clarification, please contact us and we will be happy to help you with your question.