Collin Texas Right of First Refusal Agreement is a legal document that grants a certain party the first opportunity to purchase or lease a property or asset before the seller entertains offers from other potential buyers or lessors. This agreement is commonly used in real estate transactions in Collin County, Texas, to protect the interests of the party given the right of first refusal. In Collin Texas, there are different types of Right of First Refusal Agreements tailored to specific circumstances and assets. Some notable types include: 1. Real Estate Right of First Refusal Agreement: This type of agreement is commonly used in the Collin County real estate market. It grants a specific individual or organization the right to be the first to purchase a property at a specified price if the owner decides to sell in the future. This ensures that the party given the right has an opportunity to secure the property before others. 2. Commercial Lease Right of First Refusal Agreement: This agreement is typically employed in commercial leasing scenarios in Collin Texas. It grants a tenant the priority to lease additional space in the same building or complex if it becomes available. The tenant is given the opportunity to match or improve upon any offer received from a third party for the vacant space. 3. Partnership Right of First Refusal Agreement: In cases where there are multiple partners involved in a business or investment venture in Collin Texas, this agreement helps safeguard each partner's interests. It provides partners with the first opportunity to acquire shares or ownership interests from another partner who intends to sell or transfer ownership rights. 4. Intellectual Property Right of First Refusal Agreement: This type of agreement applies to Collin Texas businesses or individuals who own valuable intellectual property, such as patents, trademarks, or copyrights. The agreement grants a designated party the first chance to acquire or license the intellectual property rights before any offers from third parties are considered. Collin Texas Right of First Refusal Agreements are valuable instruments that offer protection and transparency in various transactions. It is important to consult with a legal professional experienced in Collin Texas real estate and contractual law to draft these agreements accurately and ensure they effectively reflect the intentions of each party involved.