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Rights of First Refusal/Rights of First Offer in Transactions (Teleseminar)
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Rights of First Refusal/Rights of First Offer in Transactions (Teleseminar)

1 CLE hour

9/4/2015
When: 09/04/2015
1:00 PM to 2:00 PM
Contact: (404) 521-0781


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An 800 number connects you to nationally recognized practice leaders who will speak on important issues and emerging trends in the law. You can also pose your own questions to the speakers. Written materials and other details are emailed in advance to pre-registrants.

 

Rights of First Refusal/Rights of First Offer in Transactions - 1 CLE hour

 

Rights of first refusal and rights of first offer are frequently used in business and real estate transactions. The differences between the two are often overlooked, as is their real and substantial impact on the pricing, timing, and costs of completing a transaction.  While rights of first refusal are often demanded and a way of getting a deal off the ground, on the back-end of a buy/sell agreement they can exert downward pressure on the price of the underlying property and hamper development of a third-party market.  Rights of first refusal can help hasten a deal among buyers and sellers or landlords and tenants, thereby reducing costs, or they can be a costly waste of time.  Each of these types of rights has subtle tradeoffs for counter-parties that must be considered in when they are drafted into agreements. This program will provide you with a practical guide to drafting rights of first refusal and rights of first offer in business and real estate transactions, understanding their practical consequences later in a transaction, and negotiating strategies for buyers and sellers, landlords and tenants. 

Essential differences between rights of first refusal and rights of first offer in business and real estate transactions
Real-world costs, tradeoffs and risks of each type of right – and drafting tips and traps
Best circumstances in which these agreements are used in business transactions and commercial real estate acquisitions/sales and leasing 
Dangers of rights of first refusal to sellers, including depressing the sales price and limiting third party interest in the property – and how to mitigate 
Practical strategies for buyers and sellers, landlords and tenants when negotiating these rights
Understand the balance of using rights of first offer for speed in transactions versus maximizing pricing

Speaker: 

John S. Hollyfield
is of counsel and a former partner in the Houston office Norton Rose Fulbright, LLP.  He has more than 40 years’ experience in real estate law practice.  He formerly served as chair of the ABA Real Property, Probate and Trust Law Section, president of the American College of Real Estate Lawyers, and chair of the Anglo-American Real Property Institute.  He has been named a "Texas Super Lawyer" in Real Estate Law by Texas Monthly magazine and is listed in Who’s Who in American Law.  He is co-editor of Modern Banking and Lending Forms (4th Edition), published by Warren, Gorham & Lamont.  He received his B.B.A. from the University of Texas and his LL.B. from the University of Texas School of Law.

 

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