Right of first refusal: purchase contract and conditions

Right of first refusal – The right of first refusal is a right that allows a person to enter into a contract of sale on the terms that an owner had agreed with a purchaser. The person with the right of first refusal takes the place of the purchaser and therefore also assumes the rights and obligations. There are many different statutory and contractual rights of first refusal. A right of first refusal comes into force when an heir from a community of heirs wishes to sell his share. The remaining heirs have a right of first refusal in such a case.

Key Facts -

What does right of first refusal – waiver mean?

Land: Trouble over right of first refusal

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