Right of First Refusal (ROFR)
A right of first refusal gives a party the option to purchase property on the same terms as a third-party offer before the sale to that third party.
| ROFR Structure | Mechanism |
| Trigger | Owner receives third-party offer |
| Notification | Right holder informed of terms |
| Decision period | Time to match offer |
| Matching terms | Same price and conditions |
| Comparison | ROFR vs Pre-Emption Right |
| ROFR | Match third-party offer |
| Pre-emption | First offer before marketing |
| ROFR timing | After owner has offer |
| Pre-emption timing | Before owner seeks buyers |
Related Terms
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