Contracts
In Vermont, a buyer's 'right of first refusal' in a lease option agreement gives the buyer the right to:
APurchase the property at any time without the seller's consent
BMatch any bona fide offer the seller receives during the option period before the seller can sell to a third party✓ Correct
CRefuse all offers made by third parties
DSet the sale price unilaterally
Explanation
A right of first refusal in a Vermont lease option gives the tenant/buyer the right to purchase the property by matching any acceptable third-party offer. The seller must notify the holder of their right before accepting a third-party offer, giving the holder an opportunity to exercise their right.
Related Vermont Contracts Questions
- In Vermont, the 'effective date' of a real estate contract is typically:
- A Vermont purchase contract becomes binding when:
- Vermont real estate contracts may include a 'merger clause' (integration clause) stating that:
- Vermont's attorney review of a purchase contract is important because:
- A Vermont purchase and sale agreement is voidable by a minor party because:
- Vermont's real estate purchase contract may include a radon inspection contingency, which allows the buyer to:
- A Vermont seller's failure to disclose a known latent defect (hidden defect) could result in:
- Vermont's seller property disclosure protects the buyer by:
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