Right of First Refusal to Purchase Land

This Right of First Refusal Agreement is between a landowner, who acts as a trustee, and a land trust who desires to purchase the landowner's property. If the landowner receives an offer from a third party to purchase the land, owner agrees not to sell until the land trust refuses to purchase on the same terms as the third party. This agreement sets out all terms of this type of arrangement including details regarding the refusal to purchase. It is imperative that this agreement be clearly set forth in writing. (continued ...)