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Right of First Refusal

A right that gives co-owners priority to buy a share when it is sold to a third party.

What does this term mean?

A right that gives co-owners priority to buy a share when it is sold to a third party.

Where does it appear in practice?

It often arises in jointly owned property and intra-family share transfers.

Related terms

Dissolution of Co-Ownership Subdivision Sham Transaction

Other glossary entries

Agreed Divorce Protocol Call Detail Records Cancellation and Registration of Title Deed Case Management Order Coercive Imprisonment Consolidation Conveyance / Transfer Deed Default Defense Counsel Disclaimer of Inheritance Dissolution of Co-Ownership Duplicate / Repeated Enforcement Proceeding Ex Officio General Information Check Improvements on Real Property Inheritance Division Judicial Recess Limitation Period Matrimonial Property Regime Mediation Medical Malpractice Pending Property Division on Divorce Reduction Claim Reserved Share Right of First Refusal Service of Notice Sham Transaction Subdivision Suretyship Termination Transfer by Inheritance Unjust Termination