A tenant has the right to match or better any offer the landlord may receive on the property before the property may be sold to someone else in a (n) _______.

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The concept of a right of first refusal is a contractual provision that gives a tenant the opportunity to match or exceed any offer that a landlord has received for the sale or lease of a property before it can be sold to another party. This arrangement protects the tenant’s interest in staying in the location without unexpectedly facing a new owner or a change in tenancy.

In practical terms, if a landlord receives an offer from a third party to purchase the property, the landlord must first present that offer to the tenant, who can then decide if they want to buy the property under the same terms. This right essentially helps maintain the tenant’s preference to remain in the property and can provide them with a sense of security.

The other options do not align with this particular tenant’s right. For example, a sale and leaseback refers to a transaction where the property owner sells the asset and simultaneously leases it back from the buyer, which does not involve matching an offer. A sublet allows a tenant to lease the premises to another party but does not include the right of first refusal. An escalation clause typically involves adjusting rent based on specified criteria, not providing rights to purchase or match offers on the property. Thus, the right of first refusal is the correct term that accurately

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