right of first refusal

Definitions

Construction

• The right to purchase an interest in real property if its owner decides to sell. In contracts to an option, the holder of a right of first refusal does not have the unqualified choice to buy or not to buy.

Law

• noun the right to make an offer to buy a property after other others have been submitted and with the knowledge of the value of those other offers

Nearby Definitions of “right of first refusal”

• Richard D'Oyly Carte
• Richard II
• Richard III
• ridge
• right
• right of first refusal
• ring
• Robert Edmond Jones
• Robert Sherwood
• robot
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Contexts for “right of first refusal”

2 definitions in context
• Construction
• Law