Property Ownership
In Michigan, a right of first refusal gives the holder the right to:
APurchase the property at any price they choose
BMatch any bona fide offer the owner receives before the owner can sell to a third party✓ Correct
CPrevent the owner from selling the property
DLease the property for a fixed term
Explanation
A right of first refusal entitles the holder to match any offer the property owner receives from a third party. The owner must offer the property to the right holder on the same terms before selling to others.
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