What is Right of Refusal?
- ngramuglia3
- May 15, 2023
- 1 min read
A lease or contract might include "right of first refusal" to note that an individual has the right to put an offer on a property before it is listed on the market by a seller.
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The Right of Refusal, also known as the Right to Refuse or Right of First Refusal, is a legal concept that grants an individual or entity the option to decline or reject a proposed offer or opportunity.
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A right of first refusal is a contractual right giving its holder the option to transact with the other and giving the opportunity for a business transaction first.
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