Right of First Refusal to Purchase Land
Form reviewed by Bahman Eslamboly, Attorney at FindLegalForms
This Right of First Refusal is for use in a real estate transaction between a landowner and a land trust who desires to purchase property. This form gives the land trust the first right to purchase even if another party has made an offer for the same property.
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This Right of First Refusal Agreement (Real Estate) contains the following provisions:
- Parties: Names of the landowner and land trust/purchaser;
- First Refusal: Land trust is given the right of first refusal if landowner receives another offer for the same land from a third party. The land trust must then purchase the land at the same offer as the third party;
- Signatures: Landowner and land trust must sign this agreement.
Protect your rights and your property by purchasing this attorney-prepared form.
This attorney-prepared package includes:
- General Information
- Instructions and Checklist
- Right of First Refusal Agreement (Real Estate)
Right of First Refusal to Purchase Land
Product Details
| Product | Right of First Refusal to Purchase Land |
| Country | United States |
| Pages | 6 |
| Dimensions | Designed for Letter Size (8.5" x 11") |
| Printer compatibility | Designed to print on all ink-jet and laser printers |
| Editable | Yes (.doc, .wpd and .rtf) |
| Format |
Microsoft Word Adobe PDF WordPerfect Rich Text Format |
| Platform |
Windows Compatible Mac Compatible Linux Compatible |
| Availability | In Stock. Instant Download |
| Usage | Unlimited number of prints |
| Category | Consents, Notices, Permissions & Estoppels |
| Product number | #43531 |
| Download time | Less than 1 minute (approx.) |
| Document Access |
Via secret online address Email with download links Email with attachment upon request |
| Refund Policy | 60 days, no-questions asked, 100% money back guarantee |
Frequently Asked Questions
A Right of First Refusal is a legal agreement that gives a specific party the first opportunity to purchase a property before the owner can sell it to others. This ensures that the designated party, often a land trust, can acquire the property under the same terms as any third-party offers.
This agreement protects landowners by ensuring that they cannot sell their property to another party without first offering it to the land trust. This helps maintain the land's intended use and can prevent unwanted development.
If the land trust declines to purchase the property, the landowner is then free to sell to the third party under the same terms. This process ensures that the land trust has a fair chance to acquire the property.
Yes, once signed by both parties, this Right of First Refusal Agreement is legally binding. It is important for both the landowner and the land trust to adhere to the terms outlined in the agreement.
Yes, the Right of First Refusal Agreement can be modified if both parties agree to the changes in writing. Any modifications should be documented to ensure clarity and legal enforceability.
Without this agreement, a landowner may sell their property to a third party without giving the land trust a chance to purchase it. This could lead to disputes and potential legal challenges regarding the intent of the landowner.
The duration of the Right of First Refusal should be specified in the agreement. It can be set for a specific time frame or until certain conditions are met, depending on the needs of both parties.
It is advisable for this agreement to be prepared by an attorney familiar with real estate law to ensure that it complies with applicable laws and adequately protects the interests of both parties.
Is This Form Right For You?
Use This Form If:
- Individuals who own land and wish to provide a land trust with the opportunity to purchase their property before considering other offers will find this form essential. It ensures that the land trust has the first chance to buy the land, thereby protecting the landowner's interests in preserving the land's intended use.
- Situations requiring the establishment of a formal agreement between a landowner and a land trust can benefit from this document. This form clarifies the terms under which the land trust can exercise its right to purchase, reducing potential disputes over third-party offers.
- For those involved in real estate transactions, this Right of First Refusal Agreement serves as a safeguard against unsolicited offers. It allows the land trust to match any offer received by the landowner, ensuring that the land remains within the intended stewardship of the trust.
- Landowners looking to maintain control over their property while still being open to offers from third parties will find this agreement useful. By formalizing the right of first refusal, they can ensure that any sale aligns with their values and intentions for the land.
- Real estate professionals may recommend this form to clients who are considering selling land but want to prioritize a land trust's interest. This agreement can facilitate smoother negotiations and help avoid conflicts that might arise from competing offers.
Do Not Use If:
- – This form is not appropriate when the landowner does not wish to grant any purchasing rights to a land trust or any other party. In such cases, a standard purchase agreement without a right of first refusal would be more suitable.
- – If the landowner is not actively seeking to sell the property and does not anticipate receiving any offers, this agreement may be unnecessary. It is designed for scenarios where potential offers are expected.
- – In situations where the landowner has already entered into a binding agreement with another party, this form cannot be used. The right of first refusal must be established before any competing offers are made.
- – For landowners who prefer to sell their property without restrictions or obligations to any specific party, this agreement would not be appropriate. They may want to consider a straightforward sale agreement instead.
- – If the land trust is not interested in purchasing the property or does not have the financial means to do so, the right of first refusal may not serve its intended purpose and could complicate the sale process.
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