- prior purchase right
- right of first refusal (ROFR)
- preemptive right to purchase
Generated: This refers to a contractual right that gives an individual or entity the first opportunity to purchase a property or asset before it is offered to others.
He has the prior purchase right before the property is sold.
Generated: This term describes a condition in a contract that allows a holder to enter into a business transaction with the seller before the seller is allowed to enter into a contract with a third party.
The contract clearly states that the buyer has the right of first refusal.
Generated: This is a type of right that allows shareholders or investors to purchase additional shares or interests before others.