Right of first refusal

The right of first refusal allows a natural or legal person to acquire a property as a priority, at the price and conditions agreed between the seller and a third-party buyer. In Belgium, several pre-emption rights exist: those of regions in urban renewal zones or pre-emption perimeters, those of social tenants, and those of certain inter-municipal bodies. In Flanders, the decree on pre-emption rights is particularly developed in strategic areas. The notary is required to notify holders of pre-emption rights before proceeding with the sale. The response period is generally two months.