The sale and purchase of real estate is regulated by the Law on Real Estate Transactions along with the application of the Law on the Basics of Property Relations and the Law on Obligations.

When selling a property that is co-owned, and the co-owners do not wish to sell their share, the seller is obliged to offer the property to all co-owners, in writing, with the stated value of the property and details about other sale conditions.

Co-owners, after receiving the seller’s offer, have a legal obligation to respond within 15 days from the date of receipt of the offer. If a co-owner does not respond to the offer within 15 days or does not accept the right of first refusal, the seller of the property is free to sell the item (property) to a third party.

The sale in this case cannot be agreed upon under more favorable conditions, that is, at a lower price than the price at which the property was offered to the co-owner. Otherwise, the right of first refusal will be violated.

If the right of first refusal is invoked, the person to whom the property was initially offered (co-owner) has the right to file a lawsuit with the competent court, with the aim of declaring the sales contract without legal effect.

In addition to co-ownership, the right of first refusal must also be respected when selling agricultural land, when the seller is obliged to send an offer for the sale of their land to all neighbors.

The agency “Heroldo Real Estate” d.o.o. provides services for drafting offers to holders of the right of first refusal and all necessary advice regarding this right and preventing its violation.