The privilege of deciding whether to accept or reject something before it is offered to others: tenants have a right of first refusal if the landlord proposes to sell the property
More example sentences
- Executive members are thought likely to back the second option, under which Harrison would build 40 ‘affordable’ houses and sell them to a housing association which would offer existing tenants first refusal.
- They were offered first refusal at a price of $17, 000.00 for house and land.
- Being the affable man he is, he soon befriended local shopkeepers, and won their trust to be offered first refusal on any stock they were chucking out.
option, choice, opportunity to purchase
Definition of first refusal in:
- The British & World English dictionary