Q: First Refusal

First Refusal Q: Our landlord has made a right of first refusal offer to sell us the freehold. It is my understanding that during the 12 months following the notice he cannot sell to a third party at a lower price without re-offering it to the tenants. Should the 12 months expire without a sale going through (either to the tenants or to 3rd party), would the landlord be entitled thereafter to dispose of the freehold without any further restrictions, or would the right of first refusal requirements begin afresh? FPRA Hon Consultant Anna Favre replies: The right of first refusal would begin afresh after the end of the 12-month period and the landlord would need to serve fresh notices. [Submitted May 2019]

Q: First Refusal

First Refusal Q: Our landlord has made a right of first refusal offer to sell us the freehold. It is my understanding that during the 12 months following the notice he cannot sell to a third party at a lower price without re-offering it to the tenants. Should the 12 months expire without a sale going through (either to the tenants or to 3rd party), would the landlord be entitled thereafter to dispose of the freehold without any further restrictions, or would the right of first refusal requirements begin afresh? FPRA Hon Consultant Anna Favre replies: The right of first refusal would begin afresh after the end of the 12-month period and the landlord would need to serve fresh notices. [Submitted May 2019]

Question 1

First Refusal

Accepted Answer

First Refusal Q: Our landlord has made a right of first refusal offer to sell us the freehold. It is my understanding that during the 12 months following the notice he cannot sell to a third party at a lower price without re-offering it to the tenants. Should the 12 months expire without a sale going through (either to the tenants or to 3rd party), would the landlord be entitled thereafter to dispose of the freehold without any further restrictions, or would the right of first refusal requirements begin afresh? FPRA Hon Consultant Anna Favre replies: The right of first refusal would begin afresh after the end of the 12-month period and the landlord would need to serve fresh notices. [Submitted May 2019]

Question 2

First Refusal

Accepted Answer

First Refusal Q: Our landlord has made a right of first refusal offer to sell us the freehold. It is my understanding that during the 12 months following the notice he cannot sell to a third party at a lower price without re-offering it to the tenants. Should the 12 months expire without a sale going through (either to the tenants or to 3rd party), would the landlord be entitled thereafter to dispose of the freehold without any further restrictions, or would the right of first refusal requirements begin afresh? FPRA Hon Consultant Anna Favre replies: The right of first refusal would begin afresh after the end of the 12-month period and the landlord would need to serve fresh notices. [Submitted May 2019]

First Refusal

Search

Articles Archive