Right of First Refusal to Purchase Real Property

Posted on: March 7, 2014

Represented owner of commercial building where the lease included a Right of First Refusal for tenant to purchase the building if the owner decided to sell. The owner gave the tenant notice of the proposed sale, and tenant passed on exercising its rights.  Later, during escrow, the tenant changed its mind and demanded to exercise the right. The owner refused, having already sold the property. Tenant sued for breach of contract damages. After trial, the court entered judgment for defense in favor of our client, with an award of attorney fees, the tenant filed an appeal and lost; The Appellate Court affirmed the trial court judgment.

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