French Civil Code
In forceAn undivided co-owner who intends to transfer, for valuable consideration, all or part of his rights in the undivided property or in one or more of these properties to a person outside the joint ownership is required to notify the other undivided co-owners by extrajudicial act of the price and conditions of the proposed transfer and the name, domicile and profession of the person proposing to acquire.
Any undivided co-owner may, within one month of this notification, make known to the transferor, by extrajudicial act, that he is exercising a right of pre-emption at the price and conditions notified to him.
In the event of pre-emption, the person exercising this right has a period of two months from the date on which his reply is sent to the seller to complete the deed of sale. Once this period has elapsed, his declaration of pre-emption is automatically null and void, fifteen days after a formal notice has remained without effect, and without prejudice to any damages that may be claimed from him by the seller.
If several joint owners exercise their right of pre-emption, they are deemed, unless otherwise agreed, to acquire together the portion put up for sale in proportion to their respective shares in the joint ownership.
Where payment terms have been granted by the transferor, article
828is applicable.
