Right of First Refusal
The right to acquire a property in the event of a sale with priority on the same terms that a third party has offered.
If the owner sells, he must first offer the property to the holder of the right (redemption). For real property the right can be exercised only within 30 days of the offer. It may be created by contract and is frequently found in co-ownership or family arrangements.
A right of first refusal entered in the land register has effect in rem against every buyer. If it is bypassed, the holder can challenge the acquisition; a merely contractual right, by contrast, gives rise only to damages.
Legal basis
Statutory texts for orientation; the version in force at the relevant time prevails.
This explanation gives a general overview of Austrian law and does not replace advice in an individual case. The specific circumstances of your property purchase are always decisive.
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Land Register
The public register of land and the rights attached to it, kept by the district courts; it enjoys public faith, so a good-faith buyer may rely on its contents.
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Easement (Servitude)
A limited right in rem to use land belonging to another, such as a right of way, a utility-line right or a right of residence.
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Prohibition on Encumbrance and Sale
A register entry prohibiting the property from being encumbered or sold; against third parties it is effective only between close relatives.
Reviewing a contract, arranging escrow, securing handover?
When buying property, the contract and the land register decide. Call us directly or send an email, callback within one business day.
A direct line to the firm.
Address
BRANDAUER Rechtsanwälte GmbH Giselakai 51 5020 Salzburg
Phone
+43 662 6280000