A pre-emption right, right of pre-emption, or first option to buy is a contractual right to acquire certain property newly coming into existence before it can be offered to any other person or entity.
The pre-emption has also been defined by Justice Syed Mahmood as a right given to the owners of an immovable property for quiet enjoyment of that immovable property to obtain in substitution for the buyer, possession of certain other immovable property, on such term that as those on which such latter immovable property is sold to any other person
In the case of Pyare Mohan v. Rameshwar the Court observed that the right of pre-emption is a very weak right and a bona fide purchaser cannot buy land which he is legally entitled to own. Before 1978, the Indian Constitution also recognizes the right to property as a fundamental right under section 19(1)(f). Therefore, pre-emption is not favoured by the law as it seizes the property merely on the apprehension of inconvenience.
The pre-emption right can be exercised by any of the following three categories of the people-
1. co-owner of the property
2. participator in appendage such as a right of way etc
3. owner of an adjoin property . In addition to that, the right of pre-emption arises only out of a valid and complete sale. It does not arise out of a gift or mortgage.
However, to exercise the right of pre-emption, there are certain conditions that need to be satisfied. Those conditions are-
1. ownership over an immovable property,
2. sale of the property which is not of the person exercising the right of pre-emption,
3. there should be some relation with respect to the property between the pre-emptor and the seller of the land,
4. possession of the other property is given to the pre-emptor on the same terms as on which the other person is given the right.