right of first refusal
When the rental apartment is sold, many tenants fear for their accommodation. The question of who it will be sold to and whether one can continue to live in it remains open for the time being. However, under certain circumstances, the tenant can make the so-called right of first refusal his own and purchase the rental apartment.
The right of first refusal allows the current tenant to be the first to buy the property before anyone else does. Lawyer Hartmut von Rechenberg explains in an interview with the Frankfurter Allgemeine Zeitung: “The tenant has a right of first refusal if the apartment was converted from a rented apartment to a freehold apartment during the rental period and the landlord then sold this apartment.”
However, this right can be lost under certain circumstances, so it is important to check the individual case thoroughly.
Conditions for the right of first refusal
The right of first refusal does not apply if the owner sells the property to a relative. The landlord can also give the property away if the rental apartment has already been converted into a condominium. The same applies if, for example, an apartment building is sold.
In addition, it must be the tenant’s first opportunity to buy, i.e. if the property has already been resold at least once during the rental period, the right of first refusal no longer applies to the next sale either. However, a fundamental exclusion of the right of first refusal is also not possible via a rental agreement.
Nevertheless, only the tenant who was a tenant before the conversion to a condominium is entitled to pre-emption. Accordingly, the right of first refusal cannot be transferred to third parties and cannot be inherited.
If the tenant dies, the right of first refusal passes to the person who subsequently takes up the tenancy.
Information obligation of the landlord
If the basic requirements for the tenant’s right of first refusal are met, the landlord is obliged to inform the tenant of this. “It makes sense to give the tenant a copy of the entire purchase agreement,” explains von Rechenberg.
After all purchase information has been received by the tenant, he has a time window of two months in which he can confirm the purchase of the apartment in writing.
Von Rechenberg clarifies: “If the landlord does not inform the tenant about his right of first refusal, the tenant can demand damages.”
However, if the tenant does not want to purchase the property, he need not initially fear for the apartment. Because the new owner takes over all the rights and, above all, the obligations of the existing rental agreement. For example, the tenancy can only be claimed after three years after the sale of the apartment due to personal needs.
Henry Ely / Editor finanzen.net
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