Property Management
A North Dakota tenant who wants to purchase the property they are renting should first check whether their lease contains a:
ALease extension clause
BRight of first refusal to purchase the property✓ Correct
CSubletting provision
DArbitration clause
Explanation
A right of first refusal in the lease gives the tenant the opportunity to match any offer the landlord receives for the property before the landlord sells to a third party. Tenants seeking to purchase should always review their lease for such provisions.
Related North Dakota Property Management Questions
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