Property Ownership
In South Dakota, the 'right of first refusal' given to an existing tenant or other party means:
AThe right to purchase a property before it is offered to others✓ Correct
BThe right to refuse the seller's asking price and negotiate a lower price
CThe right to refuse a lease renewal without penalty
DThe right to purchase the property after all other offers are considered
Explanation
A right of first refusal gives the holder the right to match any offer received by the seller before the seller can accept it from another party. If the right-holder matches the offer, they can purchase the property.
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