Here to Serve You - OUR RESPONSE TO COVID-19 Learn More
Back to Glossary of Terms

Definition for

Right of First Refusal

The right to have the first opportunity to lease or purchase property at terms equivalent to those offered by a third party or at predetermined terms, which right arises upon the owner’s decision to lease or sell.

Not what you're looking for?

Check out other glossary terms or Send us a Message and we're happy to answer your questions!