Right of preference of co-owners

Article 1566 – Right of preference of co-owners Co-owners of a thing which cannot be partitioned or has not been partitioned may not sell their respective share to third parties if another co-owner is willing to acquire the same for the same price. § 1 - The co-owner who is not notified of the sale may acquire for himself the share sold to third parties, provided he sues for the same within a period of 6 months from the date on which he comes to know of the sale; before taking delivery, the said co-owner shall deposit the price which, according to the terms of the contract, has been paid or has become due. § 2 - In case there is more than one co-owner, the provisions of §§ 4 & 5 of article 2309 shall be observed; but if the shares are not equal and the partner of the larger share desires to exercise his right of pre-emption, he shall be given first preference without any auction. § 3 - The right of pre-emption in any of the cases shall not be prejudiced by the cancellation of the contract whether done extra judicially or by admission in Court or through compromise in judicial proceedings. § 4 - The time limit referred to in sub clause (1) of this article is applicable to all other cases of pre-emption.