Contracts
In West Virginia, a 'right of first refusal' clause in a lease allows the tenant to:
APurchase the property at any time at a price set by the tenant
BMatch any bona fide third-party offer to purchase the property before the landlord accepts it✓ Correct
CRenew the lease on the same terms indefinitely
DSub-lease the property without landlord consent
Explanation
A right of first refusal (ROFR) gives the holder the right to match any legitimate third-party offer before the owner accepts it. The owner must present any offer to the ROFR holder, who then has a specified period to match it or decline.
Related West Virginia Contracts Questions
- An 'as-is' clause in a West Virginia real estate contract means:
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- In West Virginia, a real estate purchase contract is classified as which type of contract before the closing occurs?
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