The right of a tenant to match an offer to lease or buy space if an offer is made by a third party.
A contractual right, frequently granted to venture capitalists, to purchase shares held by other shareholders before such shares may be sold to a third party (see paragraph 11, Section IV above).
a contractual right to participate in a transaction. For example, a venture capitalist may participate in a first round of investment in a startup and request a right of first refusal in any following rounds of investment.
A right given a lessee by an owner stating that if the owner decides to sell the leased property, the lessee has the first opportunity to purchase the subject property before it is offered to others.
The right of first refusal gives the holder the right to meet any other offer before the proposed contract is accepted.
The right of a party to acquire property before it is offered to others.
The right of a party to match the terms of a proposed contract with another party.
A right, usually given by an owner to a tenant, which gives the tenant a first chance to buy the property or lease a portion of the property if the owner decides to sell or lease. The owner must have a legitimate offer which the tenant can match or refuse. If the tenant refuses, the property can then be sold or leased to the offeror.
a condition found in many condominium by-laws which permits the board to review any party seeking to purchase or rent an apartment
a contract between a landowner and a potential purchaser which provides that if the landowner chooses to sell, it must offer the land first to the Potential Purchaser
a contractual obligation to offer a transaction to the holder of that right before offering it to anyone else
a contractual right on the part of a potential buyer to purchase real property
an agreement between a landowner and land trust that gives the organization the opportunity to match any legitimate purchase offer made on a property that is acceptable to the landowner
an agreement wherein a company is given the first right, for a limited period, to seek to negotiate a license for an invention
a binding commitment by a landowner not to sell property without first offering it to a specified individual or organization at the same terms the owner would be willing to accept from another purchaser (usually excluding family members).
The right of a party to match the terms and conditions of a bona fide offer to purchase the property that the seller/landlord is considering.
Landlord must give the tenant the right to "match" a bona fide third party offer.
The seller of a cohousing unit must offer his or her home for purchase by the community or to an individual or individuals within the community before putting it on the open market.
The right to have the first opportunity to purchase or lease real property. A right of first refusal might give a lessee the right to purchase the lease fee interest, if it is offered for sale. More common is in the case of a buyer making an offer on a property, in which they have placed contingencies that they are waiting to remove.
A provision in an agreement stating that a specified party must be given an opportunity... read full article
The right of a person to have the first opportunity either to purchase or lease real property. See "First Right of Refusal"
the opportunity of a party to match the terms of a proposed contract before the contract is executed.
A provision in an agreement that gives a party the first opportunity to lease or purchase a property before it is offered for lease or sale to others.
Purchasing a property under conditions and terms made by another buyer and accepted by the seller.
The right to purchase a property under terms and conditions made by another purchaser and accepted by the seller. For example, if the Jones' make an offer of $120,000 on a property and the seller accepts the offer subject to the Wilson's' right of first refusal, the Wilsons have the right to buy the property for $120,000.
An agreement by a property owner to give another person the right to buy or rent the property before the owner enters into an agreement with a third party.
A provision in an agreement stating that a specified party must be given an opportunity -- before any others -- to either accept or reject an offer. The right of first refusal may extend, for example, to the act of selling property. In this case, if and when the owner decides to sell, the property must first be offered to the specified party. Upon refusal by the specified party, the property may then be offered under the same terms and conditions to others.
See “ First Refusal Right”.
A provision in an agreement that provides that the owner of a property must give another specific party the first opportunity to purchase the property before he or she offers it for sale to anyone else.
The ability to make an offer for a property before the owner puts it up for sale on the open market.
The right provided to civilian employees, including term employees, permanent NAF employees and term NAF employees adversely affected by the cost comparison (standard or streamlined) or direct conversion. The "Right of First Refusal" clause is contained in FAR 52.107-3.
A provision in an agreement in which the owner of a property agrees, legally, to give one specific party the first opportunity to purchase / lease the property before it is offered for sale / lease to others.
Agreement giving a party rights to make an offer on property if a sale is pending.
A provision in an agreement that gives a party the first opportunity to purchase or lease the property before it is offered for sale or lease to others.
A lease clause giving a tenant the first opportunity to buy or lease a property or leased space at the same price or rent and on the same terms and conditions as those contained in a third party offer that the owner or landlord has expressed a willingness to accept. Such rights often pertain to rights to lease adjacent space, but can also apply to rights to purchase the building containing the premises. Search | Home
Unlike an option to buy or an option to renew a lease, which stipulates the terms in advance, this approach allows the owner to secure a market price bid that the occupant can be the first to accept or reject.
"A first refusal involves a negative contract obligating A not to part with the land without first offering it to B." Di Castri A right of first refusal is sometimes called a right of pre-emption.
Agreement by an owner to offer a property to a specified individual or organization at the same price and terms as those in a future bona fide offer to purchase received by the owner. In other words, the individual or organization has the right to match the future offer, subject to certain conditions.
An agreement by a property owner to give another person the right to buy or rent the property before it goes on the open market.
A portion of an agreement that requires a property owner to give one party the opportunity to buy or lease the property before the property is made available to other potential buyers.
The right to the first opportunity to lease or purchase real property. For example, apartment tenants might retain the right of first refusal when their units are being converted to condominiums.
In a contract to use or occupy property, the right to purchase the property at the end of a specific period of time, or if the property is put up for sale. This right is often put in long-term leases to protect the use of the land or the affordability of the housing on the land. The right can be given to a third party, such as a nonprofit organization.
A priority arrangement that grants a particular prospective buyer the first right to purchase a property, given certain agreed-upon conditions.
An owner's promise to let someone make the first offer on a property, or to match the amount offered by another party.
A provision in an agreement that requires the owner of a property to give another party the first opportunity to buy or lease that property before it is offered to anyone else.
A verbal or written right to have another party present a proposed transaction to the primary party first, and prior to it being presented to any other potential party to a transaction.
1) A lease clause giving a tenant the first opportunity to buy a property at the same price and on the same terms and conditions as those contained in a third party offer that the owner has expressed a willingness to accept. 2) A lease clause giving a tenant the first opportunity to lease additional space that may become available in a property at the same price and under the same terms and conditions as those contained in a third party offer that the owner has expressed willingness to accept.
Courtesy a convention center extends to a previously booked party to approve or disapprove a concurrent booking or to save uncontracted space for the previously booked party for program growth.
Legal agreement guaranteeing one party the first crack at buying a business or property.
An agreement made by a property owner which gives a specific buyer the opportunity to purchase the property before it is offered to anyone else.
part of an agreement giving you the first opportunity to buy or lease a property
The right specified in an agreement to have the first opportunity to purchase or lease a given property before it is offered to others, or alternately, the prior right to purchase a property based on the same terms made by another buyer that were acceptab
In general, the right of a person or company to purchase something before the offering is made available to others.
A right given to a person to be the first person allowed to purchase a certain object if it is ever offered for sale. The owner of this right is the first to be offered the designated object if it is ever to be offered for sale.
The right to have the first opportunity either to purchase or lease real property. The holder of a right of first refusal cannot exercise the right until the owner actually offers the property for sale.
Process which allows any long-term firm customer to continue receiving firm service by paying up to the maximum rate and matching the length of a term offered by another customer who is seeking the same or similar service.
A provision in an agreement that requires the owner of a property to give another party the first opportunity to purchase or lease the property before he or she offers it for sale or lease to others.
A right given to non-profits that allows them to purchase a property before it goes up for sale to the general public.
An agreement giving a person the first opportunity to buy or lease a property before the owner offers it for sale to others
A contract provision that requires a property owner to give another party the first opportunity to purchase or lease the property before it is offered to others.
A right to buy or rent a piece of property, before it is placed on the open market, which is given to a person by the owner of the property.
An agreement by an owner to give another party an opportunity to buy the property before it is offered to anyone else.
Right of first refusal (ROFR) is the right to make an offer AFTER offers from others are considered.