Property Ownership
A Florida homeowner has a 'right of first refusal' in a purchase option. This right means:
AThe homeowner must accept any offer that matches the current market value
BThe holder has the right to purchase the property before the owner sells to anyone else, matching any bona fide offer✓ Correct
CThe homeowner has the right to refuse any offer
DThe buyer can cancel the contract before the seller accepts
Explanation
A right of first refusal (ROFR) gives the holder the right to purchase the property before the owner can sell to a third party. The holder must match the price and terms of any bona fide third-party offer the owner is willing to accept.
Related Florida Property Ownership Questions
- A Florida property owner dies without a will and without heirs. The property most likely passes to:
- In Florida, a 'fee simple defeasible' estate is one that:
- A Florida 'timeshare' purchaser has a statutory right to cancel the contract within:
- In Florida, a 'fee simple absolute' estate is best described as:
- Which of the following correctly describes a 'license' as it relates to real property in Florida?
- In Florida, a 'fee simple determinable' estate automatically reverts to the grantor if:
- Florida law requires that a deed must be signed by the grantor and:
- What is a 'condominium association' in Florida responsible for under Chapter 718 F.S.?
Practice More Florida Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Florida Quiz →