Property Ownership
In Texas, the 'right of first refusal' in a lease gives the tenant:
AThe right to purchase the property at any time during the lease
BThe right to match any bona fide offer to purchase the property before it is sold to another party✓ Correct
CThe right to refuse to vacate at lease end
DPriority over other tenants for lease renewals
Explanation
A right of first refusal (ROFR) gives the tenant (or another party) the right to match any bona fide purchase offer before the property can be sold to a third party. If the tenant matches the offer, they can buy the property. If they decline, the owner may sell to the third party on those same terms.
Related Texas Property Ownership Questions
- In Texas, a 'partition action' may be used when co-owners of a property:
- A Texas property with an oil and gas lease has a 'royalty interest.' The royalty interest owner receives:
- Under Texas law, which type of deed provides NO warranty of title whatsoever?
- A Texas homeowner dedicates a portion of their property as a 'nature trail easement' to the city. This is an example of:
- A Texas urban homestead is limited to:
- A Texas property owner dies intestate (without a will) leaving a surviving spouse and two adult children. Under Texas intestacy law, the community property typically:
- A Texas homeowner files for Chapter 7 bankruptcy. Their homestead property is generally:
- Under Texas Property Code, which type of co-ownership automatically includes the right of survivorship without requiring specific language in the deed?
Practice More Texas Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Texas Quiz →