How do I add a provision in a commercial lease saying the tenant has first option to buy the property if I decide to sell?
On a commercial lease, how would I add in tenant has first option to buy property if I decide to sell, that protects me?
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Here are some sample right of first refusal clauses that would align with contract law principles: https://www.lawinsider.com/clause/right-of-first-refusal-to-purchase
The first one on the page is the simplest and appears most applicable to your situation.
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On a commercial lease, how would I add in tenant has first option to buy property if I decide to sell, that protects me?
Lexi, Chatbot
I understand you're looking to include a provision in your commercial lease that gives the tenant the first option to buy the property if you decide to sell. Have you discussed this with the tenant yet?
I have no plans of selling, but the tenant is requesting the option to be added to his lease.
Lexi, Chatbot
Are you looking for guidance on how to draft this specific clause to ensure it protects your interests as the landlord?
Yes.
Lexi, Chatbot
Is there anything else the Real Estate Lawyer should know before I connect you? Rest assured they'll be able to help with adding the option for the tenant to buy the property in the lease.
No, nothing else.
Bruce
Welcome. I am the Attorney that will be assisting you. My name is Bruce and I have been practicing law for over forty years.
Bruce
Do you want to decide on a sale price now, or give the tenant the right to match offers when you list it for sale?
Yes, to give the tenant the right to match offers when I decide to sell.
Bruce
Here are some sample right of first refusal clauses that would align with contract law principles: https://www.lawinsider.com/clause/right-of-first-refusal-to-purchase
The first one on the page is the simplest and appears most applicable to your situation.
Bruce
Have I answered all of your questions? Do you have additional legal questions on this topic? I’m here to help.
The first refusal to purchase, not sure which one to use.
Bruce
The first one on the page is the simplest and appears most applicable to your situation.
Bruce
Thank you for giving me the opportunity to assist you. Based upon the information you provided I have given my best reasoned answers to your legal questions in accordance with applicable law and practice. If any part of my response is unclear, please let me know. Best wishes for a successful outcome.
Thank you.
Bruce
Happy to be of assistance answering your questions.
Bruce
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