Property Ownership

A Utah property owner who sells their home but retains a right of first refusal for any future sale holds:

AA life estate in the property
BA contractual right that may or may not run with the land depending on how it is drafted✓ Correct
CAn easement in gross
DA reversionary interest

Explanation

A right of first refusal may be a personal contractual right (binding only on the current owner) or a right that runs with the land (binding future owners) depending on how it is drafted and whether it is recorded.

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