Oregon Right of First Refusal Clause

State:
Multi-State
Control #:
US-CC-18-360B
Format:
Word; 
Rich Text
Instant download

Description

This sample form, a detailed Right of First Refusal document, is a model for use in corporate matters. The language is easily adapted to fit your specific circumstances. Available in several standard formats. The Oregon Right of First Refusal Clause is a legal provision that grants individuals or entities an opportunity to purchase a property before it is offered to others. This clause ensures that the right-holder has the first option to buy the property at the same terms and conditions offered by a potential third-party buyer. The purpose of such a clause is to give the right-holder an advantage and protect their interests in maintaining or acquiring the property. There are different types of Oregon Right of First Refusal Clauses that include, but are not limited to: 1. General Right of First Refusal: This clause gives the right-holder an initial opportunity to purchase the property when the owner decides to sell, lease, or transfer ownership rights. The right-holder has the prerogative to either accept or decline the offer within a specified time frame. 2. Specific Right of First Refusal: This clause is often used in situations where there are multiple properties or parcels involved. It gives the right-holder the first option to purchase a specific property or parcel before it is offered to others. 3. Right of First Refusal for Leases: This type of clause applies to leasing agreements, granting the right-holder the initial opportunity to lease a property before it is made available to the public. It sets the terms and conditions for the right-holder to match or better the offer presented by a potential third-party tenant. 4. Right of First Refusal for Common Interest Developments: In the case of common interest developments, such as condominiums or housing communities, this clause may come into play. It allows homeowners' associations or other designated entities to exercise their right to purchase a property within the development if it becomes available for sale. The Oregon Right of First Refusal Clause is an essential tool in real estate transactions, providing security and preference to the designated right-holder. However, it is crucial to consult with an attorney or real estate professional to fully understand the legal implications and variations of this clause in different situations.

The Oregon Right of First Refusal Clause is a legal provision that grants individuals or entities an opportunity to purchase a property before it is offered to others. This clause ensures that the right-holder has the first option to buy the property at the same terms and conditions offered by a potential third-party buyer. The purpose of such a clause is to give the right-holder an advantage and protect their interests in maintaining or acquiring the property. There are different types of Oregon Right of First Refusal Clauses that include, but are not limited to: 1. General Right of First Refusal: This clause gives the right-holder an initial opportunity to purchase the property when the owner decides to sell, lease, or transfer ownership rights. The right-holder has the prerogative to either accept or decline the offer within a specified time frame. 2. Specific Right of First Refusal: This clause is often used in situations where there are multiple properties or parcels involved. It gives the right-holder the first option to purchase a specific property or parcel before it is offered to others. 3. Right of First Refusal for Leases: This type of clause applies to leasing agreements, granting the right-holder the initial opportunity to lease a property before it is made available to the public. It sets the terms and conditions for the right-holder to match or better the offer presented by a potential third-party tenant. 4. Right of First Refusal for Common Interest Developments: In the case of common interest developments, such as condominiums or housing communities, this clause may come into play. It allows homeowners' associations or other designated entities to exercise their right to purchase a property within the development if it becomes available for sale. The Oregon Right of First Refusal Clause is an essential tool in real estate transactions, providing security and preference to the designated right-holder. However, it is crucial to consult with an attorney or real estate professional to fully understand the legal implications and variations of this clause in different situations.

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Oregon Right of First Refusal Clause