Does the heir have the right to purchase the entire property?
Disclaimer: This is a legal article that provides information that does not replace consulting a competent lawyer to help you and for more accurate information.
Yes, one of the heirs certainly has the right to do so.
- The heir is considered a partner in the common property, and the system did not prevent partners from entering into public auctions to purchase their partners’ shares, but on the contrary, the system required the heir to enter into the auction if he wanted to own the entire property, for the following regulatory reasons:
The right of “prayer” to public auctions has been lost
Some heirs may believe they can wait for the auction to end and be awarded to an outside buyer, then demand to take the property at the same price based on the “right of pre-emption” (the partner’s right to own the sold item). However, the regulations explicitly prohibited this to close the door to manipulation and disrupt auctions:
Article 665 of the Civil Transactions Law stipulates that: “There shall be no pre-emption in the following cases: … c- If the property is sold at auction in accordance with the regulatory texts.”
Explicit text on the heir’s right to bid
In conclusion, Paragraph (12) of the regulations governing Article Fifty of the Executive Regulations of the Implementation System stipulates the following text:
“the request for pre-emption is not accepted for objects sold at auction, and for those entitled to participate in the auction”.
Accordingly, the heir (the pre-emption person) is treated like any other bidder; If he desires the property, he must go to auction, provide entry conditions (such as paying a deposit check or securing entry), and bid on it until the auction is awarded to him so that he is the regular buyer of the entire property.
(Note: When the auction is awarded to the heir and he pays the value of the property, his legal share in the property returns to him as part of the procedures for distributing the sale price to the heirs by the court or the liquidator.)
For law and legal consultations..Contact the office of lawyer Abdul Majeed Al Rashid.
References
- Executive regulations of the implementation law
- Article six hundred and sixty-five of the Civil Transactions Law
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