Art. 1622. Whenever a piece of urban land which is so small and so situated that a major portion thereof cannot be used for any practical purpose within a reasonable time, having been bought merely for speculation, is about to be re-sold, the owner of any adjoining land has a right of pre-emption at a reasonable price.

 If the re-sale has been perfected, the owner of the adjoining land shall have a right of redemption, also at a reasonable price.

 When two or more owners of adjoining lands wish to exercise the right of pre-emption or redemption, the owner whose intended use of the land in question appears best justified shall be preferred. (Civil Code)

What are the requisites for the exercise of the right of pre-emption or legal redemption by an adjacent owners of urban lands?

The requisites for the exercise of the right of pre-emption or legal redemption, as the case may be, are the following:

  1. The one exercising the right must be an adjacent owner;
  2. The piece of land sold must be so small and so situated that a major portion thereof cannot be used for any practical purpose within a reasonable time; and 
  3. Such urban land was bought by its owner merely for speculation. (Hector S. De Leon, Comments and Cases on Sales)