Washington Right of First Refusal Agreement
Description
How to fill out Right Of First Refusal Agreement?
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FAQ
The right of first refusal requires that the other parent be given the opportunity to care for the child when the parent with residential time is unavailable. A right of first refusal is generally only used when the parents have been cooperative and shown an ability to co-parent.
Where the right of first refusal exists, a Landlord must, under the Act, first offer the premises to the Qualifying Tenants, before offering it on the open market, or for sale by auction. He must serve formal notices on the Qualifying Tenants. These notices are known as Section 5 Notices.
Cancellation of a right of first refusal is called extinguishment. This can happen for two reasons: The right may be declined (the holder passes on the option to purchase) The holder may fail to exercise the right in the allotted time period.
The right of first refusal granted herein shall terminate (i)with respect to any particular First Refusal Space upon the failure by Tenant to exercise its right of first refusal with respect to the First Refusal Space so offered by Landlord pursuant to the terms of this Section1.