The right of preference in the purchase or sale of a house is provided for by law and obliges the seller to give preference to the person or public entity that has priority in the purchasing of that property, that is, the holder of this right.
In short, it sets priorities among potential buyers in conducting a business on an equal footing.
Before the Public Deed, one should be careful of several aspects that allow a transaction of the property with tranquility according to expectations. One of the factors that is important to take into account is the right of preference.
It consists of favouring a certain person or entity in the acquisition of a property, under certain circumstances.
If the house you want to sell has been rented for more than 2 years, the tenant has a right of preference, on an equal footing with other potential buyers.
Public entities can also apply for a right of preference. In what context? According to Decree-Law No. 89/2021, public entities exercise this right when the real estate is located in:
Urban pressure zones (residential and inaccessible to the generality of households).
Territories of the National Housing Programme (selected by inadequacy/lack of supply).
Areas without service contracts, such as telecommunications, water or electricity.
Urban pressure zones are classified according to some factors such as housing prices, detected housing shortages and household incomes.
In addition, the rule determines that the order of priority will be: municipalities, autonomous regions and State (Institute of Housing and Urban Rehabilitation — IHRU).
Article by Isabel Meireles by LEILOSOC® dated of March 14th 2024
