Contracts (alternative)
In Maryland, a 'right of first refusal' in a lease is triggered when:
AThe tenant pays rent late
BThe landlord receives and intends to accept a bona fide third-party offer to purchase✓ Correct
CThe lease is set to expire
DThe landlord decides to sell the property
Explanation
A right of first refusal is triggered when the landlord/owner has an actual offer from a third party they are inclined to accept. The holder of the right then has the option to match that offer within the specified time.
Related Maryland Contracts (alternative) Questions
- A Maryland real estate contract that requires one party to perform a specific act (convey title, pay the purchase price) may be enforced through:
- A Maryland buyer's home inspection contingency typically gives the buyer the right to:
- In Maryland, a buyer who makes an offer 'subject to attorney review' is providing:
- A Maryland seller refuses to close after all contingencies have been removed and the buyer is ready to proceed. The buyer's best remedy is likely:
- In Maryland, the 'merger doctrine' in real estate contracts states that:
- In Maryland, a purchase contract that requires the buyer to use a specific title company is:
- Under Maryland contract law, 'mutual mistake' may allow a contract to be:
- A Maryland purchase agreement that includes a survey contingency allows the buyer to review the property survey and:
Practice More Maryland Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Maryland Quiz →