Right of first refusal for condominium association sample?

Answer This right is documented in your governing documents, because each situation is unique. Essentially, it means that should you decide to sell your unit, the association reserves the right to purchas... Read More »

Top Q&A For: Right of first refusal for condominium associat...

When a condominium association has a right of first refusal in their declarations what does that mean?

It depends on what the association has '...a right of first refusal' over.Legally, the right of first refusal is a contracted right that gives the holder -- association in this case -- the option t... Read More »

Right of first refusal condo association?

A condominium association, and sometimes the project developer, can include a right of first refusal (RFR) in its governing documents. It is not standard or required. The advantage of this right, ... Read More »

What is the advantage and disadvantage of Right of First Refusal clause in condominium Articles?

The advantage is that the board can choose to purchase the unit before it is made available for sale to any other entity. There's really no dis-advantage, since the board can publish its non-intent... Read More »

What happens to a first mortgage on a condo in California when the condominium is the one doing the foreclosure for the association fees?

Generally: The first mortgagee would receive notice, may choose to pay the overdue fees and add those to the amount due to the bank. If not, the condominium association would acquire the unit subj... Read More »