Rights of First Refusal

The Rights of First Refusal is a two step process. The first step, which is usually referred to as the "Derecho de Tanto" provides the spouse and children of the ejido member the first right to purchase the property at the offered price. The second right to purchase the property is then offered to all of the other members of the ejido community, and the third rights are then given to neighbors (avecindados) of the community. The second and third rights must follow an exact procedure, and must be posted in a designated place within the ejido for at least 30 days.

The second step, which is usually referred to as the "Derecho de Preferencia" provides the government the option of purchasing the property before an outside sale can occur. Although it is very unlikely the government may choose to purchase properties suitable for infrastructure development, this could include railway lines, communication hubs, or property with a special government interest.

ADVISORY: The Rights of First Refusal process is exact, the smallest error, omission, or failure to complete any step of the process correctly could risk your entire investment. It is never recommended for any investor to oversee this process without qualified legal assistance, nor is it advised to assume that the process has been completed correctly if a Public Title has already been issued. Riviera Property Group can ensure that the Rights of First Refusal process is, or has been completed correctly. More Info