Legal Question in Real Estate Law in Virginia

first right of refusal

I have a deed of contract for first right of refusal to purchase should the land be sold. if the owner wishes to give the land as a gift to her son (''for $1.00 gift in hand'' as it is read in VA.) is it still considered a sell? Does my first right of refusal clause give me right to purchase it? there is no exception for gift written into the contract.


Asked on 2/27/09, 2:07 pm

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

Re: first right of refusal

No, it is not considered a "sell" since a conveyance of property by way of a deed of gift is not a sale of the property irrespective of the fact that the deed may recite a nominal sum such as the $1.00 that you mentioned for the purported validation of the transaction.

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Answered on 3/01/09, 12:17 am


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