Right of First Refusal
The right to buy with priority upon a sale.
A person holding a right of first refusal may acquire an item themselves, on the terms agreed with a third party, when the owner sells. There are contractual and statutory rights of first refusal (for example, for tenants upon conversion into ownership).
The relevant statutes
§ 463 BGB§ 577 BGB
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General explanation for self-help, not legal advice (RDG). Individual cases may differ: if in doubt, contact a consumer advice center or a lawyer.