Legal Question in Real Estate Law in New York

Right of First Refusal in Purchase Contract

I have placed a binder to purchase vacant land in rural upstate NY. In the purchase contract there is a clause addressing Right of First Refusal:

''Seller shall have a right of first refusal, to be included in the deed, which shall grant to the Seller the right to purchase the property in the event the Purchaser re-sells the property. Said right may be exercised or declined by the Seller within thirty days of written notice by Purchaser.''

Does this hold much meaning? Could the Seller really prevent me from selling to a relative, for example?


Asked on 4/09/03, 10:59 pm

2 Answers from Attorneys
David Slater David P. Slater, Esq.

Re: Right of First Refusal in Purchase Contract

I doubt this provision is valid but I would not accept such a deed.

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Answered on 4/10/03, 4:39 am
Arnold Nager Arnold H. Nager, Esquire

Re: Right of First Refusal in Purchase Contract

Such a provision is usually placed in condominium or coop sales contracts, but could create problems for you later on if you fail to honor the provisions.

My advice would be to ask that it be removed from the contract of sale.

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Answered on 4/10/03, 7:36 am


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