Options & Pre-emption

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Last updated 7:55 PM on 8/14/26
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4 Terms

1
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Option

A firm offer already made and kept open for a specified period; holder just decides whether to accept.

2
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Right of pre-emption (first refusal) —

No offer exists yet; only activates if/when the owner decides to sell, giving the holder first chance to buy.

3
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