Statutory right of pre-emption

Statutory right of pre-emption is regulated under articles 732., 733., 734. of the Turkish Civil Code; however, no clear definition has been made. İn itsmost general definition, the right to preemptive authorizesother stakeholders to purchase, in the event that a stakeholders in a shared ownership sells all or part of its share to a third party. The right to pre-emption is one of the rights that give rise to innovation. The right to pre-emption is one of the rights that give rise to innovation. The right to pre-emption can only be used by filing a lawsuit. The notification periods for the exercise of this right are three months and two years. The three-month period starts from the date of sale notification. The two-year period is foreseen from the date of sale. These periods are latest term. The judge considers itself.