What is the right of first refusal?

In Poland, the right of preemption is regulated in the Civil Code. The right of preemption gives a person (the entitled party) priority in acquiring real estate before other individuals. This means that if the owner of the property decides to sell it, the entitled person has the right to purchase this property before other potential buyers. The right of preemption can be exercised after the conclusion of a sales agreement for the subject matter covered by this right, while the right of priority is applied when there is only an intention to dispose of a given item. The time for exercising the right of preemption depends on the agreement or legal provisions that regulate the given situation and may be determined in an agreement between the property owner and the entitled person or specified in the laws.

The following text has been translated from Polish to English: "

The right of first refusal (also known as the right of pre-emption) is the right that is granted to a specific person or institution to purchase real estate before other potential buyers in the event that the property owner decides to sell it.

The difference between the right of pre-emption and the right of first refusal is subtle:

The right of pre-emption refers to a situation where the property owner is obligated to inform a specific person or institution about their decision to sell before making a public offer. This person has the first option to purchase the property, but they can choose to accept or decline it.

The right of first refusal is a more binding obligation. It means that the property owner is obligated to offer it for sale first to the eligible person or institution. If the eligible party wants to acquire the property, the owner must sell it to them, disregarding other offers.

As for the time frame to exercise the right of first refusal, this period is usually specified in the agreement or relevant legal provisions. It can be a specific number of days or months. It is important to carefully review the terms of the agreement or the applicable laws in a given country or jurisdiction.

"

The right of first refusal, also known as the right of pre-emption, is a legal principle that gives a specific person or institution priority in acquiring a specific property or other assets before other potential buyers. This means that if the owner decides to sell their property, the person or institution covered by the right of first refusal has priority in purchasing it before others who would like to acquire it. However, this person or institution is not obligated to make the purchase and can waive this right, allowing other interested parties to acquire the property. The right of first refusal may be regulated by legal provisions and varies depending on the jurisdiction and type of property.

The right of first refusal is the entitlement of one party to a contract to acquire a specified item in the event that the other party sells it to a third party. The right of first refusal may arise from a contract or legal provisions (e.g. the law on the management of agricultural and forestry real estate). Priority in the acquisition of real estate is the entitlement of one party to a contract to acquire a specified property in the event that the other party intends to sell it. The right of priority does not require the conclusion of a conditional sales agreement between the owner and a third party. In the case of the right of priority, the seller is only obliged to inform the entitled person of the intention to dispose of the specified item. Differences between the right of first refusal and the right of priority in the acquisition of real estate: - Source: the right of first refusal may arise from a contract or legal provisions, while the right of priority may only arise from a contract. - Timing of the sales agreement: the right of first refusal is exercised after the conclusion of the sales agreement, while the right of priority is exercised before the conclusion of the sales agreement. - Time limit to exercise the right: for the right of first refusal, the time limit to exercise the right is 6 weeks from the date of receipt of the notice of the conclusion of the sales agreement, while for the right of priority, the time limit to exercise the right may be specified in the agreement. The time limit to exercise the right of first refusal is 6 weeks from the date of receipt of the notice of the conclusion of the sales agreement. The notice of the conclusion of the sales agreement should contain the following information: - Date of conclusion of the sales agreement - Subject of the sales agreement - Selling price - Seller's full name, first name, and address - Buyer's full name, first name, and address The notice of the conclusion of the sales agreement should be delivered to the entitled person in a manner that ensures their ability to become familiar with its content. Delivery can be made in person, by registered mail with acknowledgement of receipt, or to an email address if the entitled person has given consent to this. In the event of failure to comply with the time limit to exercise the right of first refusal, the entitled person loses the right to acquire the property.

The right of preemption is an institution of civil law and is most commonly used in the case of real estate but can also apply to movable property. It consists of reserving the priority of purchase for a designated party in the event that the owner sells the property to a third party. The right of preemption can arise from legal provisions or from an agreement, such as a lease agreement in which the preemption of the rented premises is reserved for the tenant. The right of preemption is only applicable to sales agreements. A donation or exchange agreement for real estate will not trigger the provisions related to preemption. In the case of a right of preemption, the property can only be sold to a third party on the condition that the entitled party does not exercise their right and does not purchase the property. In practice, this situation requires the sale to be divided into two stages. The parties first sign a conditional agreement, and then - if the right of preemption is not exercised - they can conclude the actual sales agreement. The conditional agreement serves as the basis for notifying the entitled person about the content of the sales agreement. Most often, such notification is made by a notary public who prepares the conditional agreement, but it can also be done by the seller personally, for example, by sending a registered mail. It is important to be able to demonstrate that the notification has been effectively delivered to the entitled person. The entitled party has one month from receiving the notification to submit a relevant statement regarding the exercise of their right. If such a statement is not submitted, or conversely - a statement of resignation from the right of preemption is submitted, the parties to the conditional agreement may proceed to conclude the sales agreement. If the right of preemption arises from the law, omitting the entitled party, if it is the State Treasury or a local government unit by virtue of the law, a co-owner, or a lessee, results in the invalidity of the sales agreement. In contrast to the right of preemption, the right of priority is not regulated by legal provisions. It can be established in an agreement and can be shaped practically at will. An important similarity is that in the case of acquiring real estate burdened with statutory right of priority or right of preemption, the entitled person basically has no possibility to negotiate the price. In the case of preemption, the entitled person has no influence on the price already established in the agreement, as they only step in the place of the person with whom the owner concluded the conditional sales agreement. However, in the case of acquiring real estate from a public resource, which is sold while retaining the right of priority, the general rule is to determine the price by a property appraiser. The right of priority does not require the conclusion of a conditional sales agreement between the owner and a third party, as is the case with preemption. In the case of the right of priority, the seller is only obliged to inform the entitled person about the intention to dispose of the specified asset.

"The right of first refusal is a law that gives a specific person or group of people priority to acquire a property before other interested parties. The origins of this law can be traced back to ancient Rome, where landowners were obligated to sell their land to their neighbor first. The right of first refusal is particularly important in certain countries, such as France, in the field of agriculture. Its purpose is to maintain local farmers on the land by preventing mass sales directly to the market. In today's world, the right of first refusal is often also used to protect the rights of tenants. It provides them with the opportunity to have priority in acquiring the property they live in if the owner decides to sell it. The right of first refusal differs from the right of first acquisition. The right of first acquisition means that a specific person is granted the first right to acquire the property if the owner decides to sell it. On the other hand, the right of first refusal gives that person or group of people priority over other interested parties, but it does not guarantee that the property will be sold to them. The time to exercise the right of first refusal varies depending on the specific regulations of each country or agreement. It usually ranges from a few weeks to a few months. If the right of first refusal is not used, the owner has the right to sell the property to other people. If you have any experience with the right of first refusal, feel free to share it in the comments."

"I read a book on this topic some time ago, and from what I remember, the right of preemption in our beloved Poland is the right of first refusal to purchase any item. Of course, this applies if the owner of this item intends to sell it to a third party."

The right of first refusal is a right that gives a specific person or institution priority in purchasing real estate or other assets before other potential buyers. This means that if the property owner or seller decides to sell it, they must first offer it to the person or institution with the right of first refusal before considering other buyers. The right of first refusal can have various applications, but it is most commonly used in the context of real estate. This may include situations where a city or municipality has the right of first refusal in the sale of land, or co-owners of a property have priority in its acquisition over non-family members. The right of first refusal may be specified in an agreement or in legal regulations, and its existence and scope depend on the jurisdiction. Its purpose is to protect the interests of individuals or institutions that have previously been agreed upon or recognized as important in the context of a particular transaction.

"Right of first refusal (also known as the right of first refusal to purchase) is a right that gives a person or institution priority in purchasing real estate before other potential buyers. This is often used in the case of selling real estate or agricultural land. The person or institution that has this right can decide whether they want to purchase the property on these terms. The priority in acquiring real estate is a more general term that refers to the priority of a person or institution in purchasing real estate, but it does not necessarily have to be the full right of first refusal. In some cases, for example, in agreements between private parties, priority in acquisition can be established without the full right of first refusal. The time granted to a person or institution to exercise the right of first refusal is usually specified in the agreement or regulations of the law of a given country or region. It can be a matter of days, weeks, or months, depending on the applicable regulations and agreements between the parties. The right of first refusal and the priority in acquisition are tools that help regulate the real estate market and protect the interests of various parties, such as property owners, tenants, farmers, or public institutions. It is worth noting that the details and rules regarding these rights can vary significantly depending on the jurisdiction."

The right of first refusal is a person legally designated to have priority in purchasing a specific property. There are many conditions as to who can acquire the right of first refusal, depending on the situation.

The right of first refusal (also known as the right of first priority) is a right that allows a specific person or institution - the interested party - to have priority in acquiring a specific real estate property before it is sold to anyone else. This means that if the owner of the property decides to sell it, they must first notify the person or entity entitled to exercise the right of first refusal and give them the opportunity to purchase the property on the same terms that would be offered to other potential buyers. The right of first refusal aims to allow individuals or institutions associated with the property to preserve or acquire it under specific circumstances. The right of first refusal differs from the right of first priority mainly in terms of the degree of advancement. The right of first priority involves privileged treatment of a specific person or institution in the real estate sales process, meaning they have the first opportunity to purchase, but are not obligated to do so. On the other hand, the right of first refusal is a more rigorous commitment, whereby the person or institution entitled to exercise this right has priority in purchasing the property and can do so if they meet certain conditions and are interested in the purchase. The time period granted to a person or institution to exercise the right of first refusal may vary depending on the jurisdiction and individual agreements. The final deadline is specified in the agreement or based on legal provisions. In some cases, it may be a specific time frame, for example, 30 days from the notification, while in others it may be a longer period of time, allowing the interested party more time to make a decision about purchasing the property. It is worth emphasizing that the right of first refusal is a legal instrument aimed at balancing the interests of different parties in real estate transactions and can significantly differ depending on local legal provisions. Therefore, it is always recommended to consult with a lawyer or real estate specialist if you want to understand how this law works in a particular jurisdiction.

The right of first refusal means the right of priority to purchase a specified item (in our case, real estate) by the entitled person, if the owner of that item intends to sell it to a third party.

The right of first refusal is a right that gives a specified person or institution priority in acquiring real estate before others. This means that in the case of selling a particular property, the person or institution with the right of first refusal has the right to purchase the property before other potential buyers. The right of first refusal may be established based on an agreement, a provision of a will, or laws. It is usually applied in cases of real estate subject to lease, rent, or inheritance. In the event of exercising the right of first refusal, the person or institution with such entitlement must express their willingness to use it within a specified time period and with the same price or conditions as proposed to other potential buyers. The right of first refusal aims to protect the interests of entitled individuals or institutions, providing them with the opportunity to preserve or acquire a particular property as a priority before it is sold to anyone else.

The law entitles to purchase an item only when the owner wants to sell it.

"

tak na chłopski rozum to prawo do bycia pierwszym w kolejce do kupna

" in English would be "on a peasant's understanding, it is the right to be the first in line to make a purchase"