Trial and retraction: two rights that go hand in hand in favor of the tenant
1 Jun 2020
Both if you are the owner of a rented house or if you are the tenant, you are interested in knowing the right of first refusal and retraction. This right makes available to the lessee the possibility of buying the property in which he/her lives before any other potential buyer.
Trial and retraction are two rights that every owner and tenant must know and that always go together; the second appears only in case the tenant has not had the opportunity to exercise the first. To clearly explain what they consist of, we use the following example:
The owner of an apartment in Los Montesinos (Alicante) has rented his home for the last 5 years and thinks that the time has come to sell. Currently, there is a tenant in the house whose rental agreement is still in force.
The owner must notify the tenant of the intention of buying-selling his/her apartment with all the characteristics in which he/she wants to carry it out (price, accessories of the property, etc.). As of this moment, the tenant has 30 calendar days to respond and exercise his/her right of purchase -trial-.
Let's imagine that the price that the owner has set for the apartment is not enough to convince the tenant, so the tenant decides not to use his/her right of purchase. Some time later, a potential buyer appears offering a lower price than the initial one and the owner agrees to the sale. It is then when the tenant of the house can use his/her right of withdrawal, proceeding to purchase the house with the same conditions that have been set for the potential buyer.
These two rights support the lessee in the purchase of the property in which he/she has been living for rent. Accessing the acquisition of a home that you have enjoyed for a period as a tenant is easier than ever!
If you are interested in renting your home in Los Montesinos or surroundings, our team will offer you complete advice so that you can do so with the greatest security. You can contact us by writing to email@example.com or calling (+34) 660 500 255.