The Aspects of Preemption Right in the Romanian and Hungarian Legal System

• Author: Izabella Szocs - Mihai-Constantin Avornicului
• Position: Faculty of Economics and Business Administration, ?Babes?Bolyai' University of Cluj-Napoca
• Pages: 33-38

Law, Society & Organisations

Volume III, Issue 4 (1 / 2018)

33

Izabella SZŐCS,

Mihai-Constantin AVORNICULUI

Faculty of Economics and Business Administration,

„Babeş–Bolyai” University of Cluj-Napoca

THE ASPECTS OF PREEMPTION RIGHT

IN THE ROMANIAN AND HUNGARIAN

LEGAL SYSTEM

K

eywords

Preemption right,

Legal system,

New Civil Code

Abstract

The preemption right, according to its definition, could be described as a right under which a party has the

first opportunity to buy an asset before it is offered to a third party. The preemption right is also called,

mainly in the business field, the first refusal right. The preemption right or the right of preemption first

appeared in the post-communist states after 1989, due to the liberalization of the commerce. In the

Romanian legal system it was firstly mentioned in the Act 18/1991 and it was associated with the transfer

of agricultural lands, where the neighboring landowners had preemption right in order to purchase each

other's agricultural terrains. Later, the Civil Code of both states regulated several types of the preemption

right. The scope of our article would be to analyze the doctrine referring to the nature of this right, whether

it represents a right in rem, in personam or a potestative right. Different authors have distinct opinions about

the problem and we would like to present the reasoning behind the various views.