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- Title
Preemptive Rights and Wrongs: First-Refusal and First-Offer Rights.
- Authors
Krumbein, Sandra E.; Schwartz, Martin A.
- Abstract
The article discusses the things that lawyers need to consider when drafting contracts involving a right of first refusal (ROFR), activated when the owner of the property burdened by the right obtains a purchase offer from a third party, either in the form of a purchase contract or a term sheet or letter of intent. It includes the need to determine the property encumbered by the refusal right, the trigger for activating the first refusal right, and the owner's ability to sell.
- Subjects
RIGHT of first refusal; OFFER &; acceptance (Contracts); FOR sale by owner (Real property); REAL estate sales; PURCHASE &; sale agreements (Real property)
- Publication
Florida Bar Journal, 2018, Vol 92, Issue 7, p53
- ISSN
0015-3915
- Publication type
Article