The legal nature and mechanism of protection of the right of first refusal in joint shared ownership

Abstract

The joint shared ownership is characterized by a complex interweaving of both external relations, who connect co-owners with all third parties, and internal relations, which connect co-owners among themselves. The latter is far from indifferent who will take the place of a person retiring from shared ownership relations. In addition, if initially there were two co-owners, the remaining co-owner may be interested in the transfer of multi-subject property to single-subject property. Of course, consideration of the interests of persons between whom shared ownership relations remain, as well as individuals who wish to become owners of all property, that is, move from shared ownership to single-subject, should be done in such a way that in no way impairs the right of each participant on the free disposal of their shares. On a strict accounting of mutual interests and rules on the disposal of a participant in the share ownership of his shares are built. The disposal of a shareholder belonging to it may be carried out in compliance with the requirements established by law. In accordance with paragraph 1 of Article 216 CC when selling a share in shared ownership to an outsider, the other participants in common share ownership have the right of first refusal to buy the sold share at the price for which it is sold and on other equal conditions, except for the case of sale from public markets.