Rights of First Refusal
What is the right of first refusal in law? What triggers a right of first refusal? Download this ROFR agreement sample now for your reference.
Review Rating Score
Overview
When the Buyer and the Owner start negotiations, it's important to list all the agreed conditions in a Purchase Agreement , before sending out the deposit. When the parties seal the transaction, it's useful to include a Right of First Refusal (ROFR) clause or agreement.
What triggers a right of first refusal?
Having the first right of refusal on property, business, art objects, etc is often of great value to the holder. For that reason, the right of first refusal is a contractual condition or right that gives the holder the option to enter a business transaction with the owner of something, according to the specified terms, before the owner is entitled to enter that transaction with another (third) party. Since people often tend to haggle over small things for which they are willing to pay the least for (e.g. real estate sale in which a family like to include a small furniture item); if forced to give up money from their share, they often will not give up a small amount. Keep this interesting human tendency in mind when negotiating this kind of clause, if they won’t pay, don’t give in on it.
The following ROFR clauses are included to finalize the purchase:
- Owner definition
- Grantee definition
- Sum
- Offer
- Payment
- Intent to Purchase
- Effectiveness
- Headings
- Grant of Rights
- No Waiver
- Notices
- Entirety of Agreement
- Governing Law
- Severability
Download this Right of First Refusal to Purchase template and possibly save yourself some lawyer fees. This is a model contract. If you however have any doubts, it's always important to consult a local lawyer to discuss the situation.
Is the content above helpfull?
Thanks for letting us know!
Reviews
Belinda Keller(6/17/2021) - AUS
Many thanks for this.
Ethel Good(6/17/2021) - NZL
Perfect document templat
Kathy w(6/17/2021)
Added those clauses in my PSA
Frank l(6/17/2021)
Useful ROFR!
Last modified
Delivery Instant Download
Your file will be available for download once payment is confirmed. Here's how.
Our Latest Blog
- The Power of Document Templates: Enhancing Efficiency and Streamlining Workflows
- Writing a Great Resume: Tips from a Professional Resume Writer
- How to build accurate and compliant documents faster
- How to Create Halloween Party Invitations? 2023
Related Templates
Need help?
We are standing by to assist you. Please keep in mind we are not licensed attorneys and cannot address any legal related questions.
-
Chat
Online - Email
Send a message
You May Also Like

Contract Template

Contract Template

Contract Template

Contract Template

Contract Template

Au Pair Placement Contract

Employment Contract

Construction Building Contract

Sales commission agreement template

Media Release Form

Supplier Data Processing Agreement

Lease Agreement

Independent Contractor Agreement

Product License Agreement

Security Agreement Template

Sample Manager Employment Contract