Washington Right of First Refusal Clause

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-360B
• Format: Word; Rich Text

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 Washington Right of First Refusal Clause is a legal provision that grants certain individuals or entities with the right to purchase a property before it can be sold to third parties. This provision is commonly used in real estate transactions to ensure that a specific person or entity has the opportunity to purchase the property under specified terms and conditions. In Washington state, there are different types of Right of First Refusal Clauses that may be implemented, depending on the specific circumstances and agreements between the parties involved. These include: 1. Preemptive Right of First Refusal: This type of clause grants a specific individual or entity the first opportunity to match an offer made by a third party for the purchase of a property. If that person or entity is willing and able to match the proposed offer, they have the right to proceed with the purchase. 2. Contractual Right of First Refusal: This clause is typically included in a lease or other contractual agreements involving real estate. It gives a particular party the right to be offered the property for sale or lease before it can be offered to others. This guarantees that the party with the Right of First Refusal has the opportunity to acquire the property or lease it on similar terms as those offered to third parties. 3. Right of First Refusal for Co-owners: This type of clause is commonly used in co-ownership situations, where multiple individuals hold an interest in a property. In the event that one co-owner wishes to sell their share, the other co-owners are granted the right to purchase the selling party's interest before it can be offered to outsiders. The Washington Right of First Refusal Clause is designed to protect the interests and rights of specific individuals or entities by providing them with priority in acquiring a property. It allows them to maintain control over the property or have a say in the sale or lease agreements. However, it is crucial to carefully review and understand the specific terms and conditions of the clause, as it may vary depending on the situation and agreements between the parties involved.

The Washington Right of First Refusal Clause is a legal provision that grants certain individuals or entities with the right to purchase a property before it can be sold to third parties. This provision is commonly used in real estate transactions to ensure that a specific person or entity has the opportunity to purchase the property under specified terms and conditions. In Washington state, there are different types of Right of First Refusal Clauses that may be implemented, depending on the specific circumstances and agreements between the parties involved. These include: 1. Preemptive Right of First Refusal: This type of clause grants a specific individual or entity the first opportunity to match an offer made by a third party for the purchase of a property. If that person or entity is willing and able to match the proposed offer, they have the right to proceed with the purchase. 2. Contractual Right of First Refusal: This clause is typically included in a lease or other contractual agreements involving real estate. It gives a particular party the right to be offered the property for sale or lease before it can be offered to others. This guarantees that the party with the Right of First Refusal has the opportunity to acquire the property or lease it on similar terms as those offered to third parties. 3. Right of First Refusal for Co-owners: This type of clause is commonly used in co-ownership situations, where multiple individuals hold an interest in a property. In the event that one co-owner wishes to sell their share, the other co-owners are granted the right to purchase the selling party's interest before it can be offered to outsiders. The Washington Right of First Refusal Clause is designed to protect the interests and rights of specific individuals or entities by providing them with priority in acquiring a property. It allows them to maintain control over the property or have a say in the sale or lease agreements. However, it is crucial to carefully review and understand the specific terms and conditions of the clause, as it may vary depending on the situation and agreements between the parties involved.