Right of First Refusal Agreement
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How to write a Right of First Refusal clause (ROFR or RFR) for an agreement? Download this Right of First Refusal Agreement between an Owner and a Grantee now!
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How to write a Right of First Refusal clause for an agreement? Download this Right of First Refusal Agreement between an Owner and a Grantee now!
This Right of First Refusal Agreement (ROFR or RFR) template covers the most important subjects and will help you to structure and communicate in a professional way with the stakeholders involved.
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 into that transaction with another (third) party. A ROFR can cover for example an asset, including real estate, personal property, a patent or license, a play, or an interest in a business. It might also cover transactions that are not strictly assets, but for example, rights to enter into a joint venture or distribution arrangement. In real estate, a right of first refusal would create a situation for a tenant to take better care of their leased apartment in case the opportunity to purchase arises in the future. Only if the holder turns it down may the owner then shop it around to other parties.
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Download this professional legal Right of First Refusal Agreement template if you find yourself in this situation and save yourself time, efforts and probably reduce some of the lawyer-fees! Using our legal templates will help you to reach the next level of success in your education, work, and business! However, we still recommend you to consider consulting a local law firm in case of doubt to support you in this matter.
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