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procedure. (1) The order of priority to exercise the right of preemption shall be as follows:- (i) all the co-heirs jointly in a conference ... moiety holder; (iii) individual heir. (2) Where such an application is made by the vendee, the head of the family or any heir may apply

exercise the right of preemption in the inventory proceeding within 60 days from the date of notice of the application by the vendees

entitled to preempt to exercise their right and shall state in the application initiating the proceeding the price and conditions of the proposed sale. Upon ... interested parties solely for the purpose of exercising the right of preemption. The procedure laid down in section 398 shall mutatis mutandis be followed