The First Refusal Right, also known as Right of First Refusal (ROFR), grants the holder the opportunity to enter a transaction—such as purchasing or leasing property—before the owner can enter into a similar transaction with a third party.
A land sale-leaseback is a financial transaction where the owner of a piece of land sells it to an investor and simultaneously enters into a lease agreement to continue using the land for a specified period.
A landlord is a property owner who rents out their property to a tenant in exchange for rent. They have the right to lease property for a specific time period while earning rental income.
A Lease with Option to Purchase is a leasing arrangement where the lessee (tenant) has the right to purchase the leased property at a predetermined price within a specified timeframe, subject to certain conditions.
A tenancy for years is defined by a lease agreement for a specified period, such as months or years, typically fixed from the outset.
