right of first refusal

right of first re·​fus·​al | \-ri-ˈfyü-zəl\

Legal Definition of right of first refusal 

: the right to have the first opportunity to purchase property upon the owner's decision to sell at the same terms offered by a third party or at predetermined terms

called also preemptive right

Learn More about right of first refusal

Share right of first refusal

Comments on right of first refusal

What made you want to look up right of first refusal? Please tell us where you read or heard it (including the quote, if possible).

WORD OF THE DAY

full of whispering sounds

Get Word of the Day daily email!

Test Your Vocabulary

Difficult Vocab Quiz

  • the-education-of-achilles-eugne-delacroix
  • Which is a synonym of discomfit?
True or False

Test your knowledge - and maybe learn something along the way.

TAKE THE QUIZ
SCRABBLE® Sprint

Test Your Knowledge - and learn some interesting things along the way.

TAKE THE QUIZ

Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!