Nassau New York Waiver of Preferential Right to Purchase

• Category: Oil Gas and Minerals - Waivers
• State: Multi-State
• County: Nassau
• Control #: US-OG-569
• Format: Word; Rich Text

Description

This is a form of a Waiver of Preferential Right to Purchase. Nassau County, located in the state of New York, offers a legal document known as the Nassau New York Waiver of Preferential Right to Purchase. This legal agreement provides individuals or entities the ability to relinquish their right to purchase a property with a preferential option. By signing this waiver, interested parties forego their first right to purchase the property before it can be sold to another buyer. The Nassau New York Waiver of Preferential Right to Purchase comes into play during certain property transactions, such as when a landlord wishes to sell a rental property or when shareholders in a co-op decide to sell their shares. By signing this waiver, the tenant or shareholder agrees not to exercise their preferential right to purchase the property under specific circumstances. Different types of the Nassau New York Waiver of Preferential Right to Purchase include: 1. Residential Property Waiver: This type of waiver focuses on residential real estate, such as single-family homes, townhouses, duplexes, or apartments intended for personal use. 2. Commercial Property Waiver: This waiver is designed for businesses or individuals interested in commercial real estate. It applies to properties used for business purposes, such as office buildings, retail spaces, or industrial properties. 3. Co-op Shareholder Waiver: In the case of co-operative housing, where shareholders own shares in a corporation that owns the building, this waiver allows shareholders to waive their preferential right to purchase their own unit if they decide to sell their shares. 4. Landlord-Tenant Waiver: This type of waiver is relevant when a landlord plans to sell a rental property. It allows the tenant to waive their preferential right to purchase the property, giving the landlord the freedom to sell to a third party. It is important to note that the Nassau New York Waiver of Preferential Right to Purchase is a legally binding document that should be carefully reviewed before signing. Consulting with an attorney or real estate professional is recommended to fully understand the implications and obligations associated with such a waiver.

Nassau County, located in the state of New York, offers a legal document known as the Nassau New York Waiver of Preferential Right to Purchase. This legal agreement provides individuals or entities the ability to relinquish their right to purchase a property with a preferential option. By signing this waiver, interested parties forego their first right to purchase the property before it can be sold to another buyer. The Nassau New York Waiver of Preferential Right to Purchase comes into play during certain property transactions, such as when a landlord wishes to sell a rental property or when shareholders in a co-op decide to sell their shares. By signing this waiver, the tenant or shareholder agrees not to exercise their preferential right to purchase the property under specific circumstances. Different types of the Nassau New York Waiver of Preferential Right to Purchase include: 1. Residential Property Waiver: This type of waiver focuses on residential real estate, such as single-family homes, townhouses, duplexes, or apartments intended for personal use. 2. Commercial Property Waiver: This waiver is designed for businesses or individuals interested in commercial real estate. It applies to properties used for business purposes, such as office buildings, retail spaces, or industrial properties. 3. Co-op Shareholder Waiver: In the case of co-operative housing, where shareholders own shares in a corporation that owns the building, this waiver allows shareholders to waive their preferential right to purchase their own unit if they decide to sell their shares. 4. Landlord-Tenant Waiver: This type of waiver is relevant when a landlord plans to sell a rental property. It allows the tenant to waive their preferential right to purchase the property, giving the landlord the freedom to sell to a third party. It is important to note that the Nassau New York Waiver of Preferential Right to Purchase is a legally binding document that should be carefully reviewed before signing. Consulting with an attorney or real estate professional is recommended to fully understand the implications and obligations associated with such a waiver.