AGREEMENT FOR RIGHT OF PRE-EMPTION

The parties are joint/co-owners of an immovable property. It is their wish that preferably the said property should remain joint amongst themselves or in the hands of one or more of them and should not go into the hands of a stranger or a third party and therefore they have agreed to create right of pre-emption in favour of each other. This is a precedent of an agreement creating right of pre-emption amongst the joint/co-owners.