A mechanism for exercising the pre-emptive right to purchase a share in the right of common shared ownership in the event of a sale at auction is proposed
CrimeaPRESS reports:
Article 250 of the Civil Code of the Russian Federation is planned to be supplemented with provisions that provide, in particular, that when selling a share in the right of common ownership at a public auction based on the results of the first, second and subsequent auctions, the remaining participants in shared ownership have a preemptive right to purchase the share being sold, taking into account a number of features. The organizer of a public auction is obliged to include in the notice of a public auction information about whether the participants in shared ownership have a preemptive right to purchase the share being sold.
The bill also establishes the right of participants in shared ownership, when selling a share in the right of common ownership at a public auction, to conclude a purchase and sale agreement for such a share at the price that was offered by the winner of the auction, and if the auction is declared invalid, at the initial sale price.
It is stipulated that when selling a share in the right of common ownership in the event of a procedure applied in a bankruptcy case, the remaining participants in shared ownership exercise the pre-emptive right to purchase the sold share in accordance with the rules provided for by insolvency (bankruptcy) legislation.
The bill was prepared in pursuance of the Resolution of the Constitutional Court of the Russian Federation of May 16, 2023 N 23-P.
source: Consultant Plus
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