right of preemption

right of preemption
Also known as a right of first refusal. This is the right to be offered a property first, should the owner decide to dispose of it. Such a right may be agreed expressly between parties, or it may arise under statute.
A right of pre-emption will usually relate to a freehold sale, but sometimes gives the holder of the right the opportunity to take a lease of premises when and if the owner decides to let them.
Related links

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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  • preemption right — noun : a right of preemption; specifically : a right given by public land laws whereby a citizen may claim and buy under stated conditions a portion not exceeding 160 acres of public land …   Useful english dictionary

  • preemption — Synonyms and related words: adoption, appropriation, arrogation, assumption, colonization, conquest, emption, enslavement, first option, first refusal, indent, occupation, option, preoccupation, prepossession, refusal, requisition, right of… …   Moby Thesaurus

  • preemption — pre·emp·tion /prē emp shən/ n [Medieval Latin praeemption praeemptio previous purchase, from praeemere to buy before] 1 a: the right of purchasing before others: preemptive right b: a right to purchase a tract of public land before others that… …   Law dictionary

  • Preemption — or pre emption may refer to: Legal Federal preemption, displacement of U.S. state law by U.S. Federal law Preemption is also sometimes used in the United States to refer to the displacing effect state laws might have on ordinances enacted by… …   Wikipedia

  • Preemption — Pre*[ e]mp tion (?; 215), n. [Pref. pre + emption: cf. F. pr[ e]emption. See {Redeem}.] The act or right of purchasing before others. Specifically: (a) The privilege or prerogative formerly enjoyed by the king of buying provisions for his… …   The Collaborative International Dictionary of English

  • preemption — ☆ preemption or pre emption [prē emp′shən ] n. [< ML preemptus, pp. of preemere, to buy beforehand < L prae , before (see PRE ) + emere, to buy (see REDEEM)] 1. the act or right of buying land, etc. before, or in preference to, others; esp …   English World dictionary

  • preemption — /priyem(p)shan/ Doctrine adopted by U.S. Supreme Court holding that certain matters are of such a national, as opposed to local, character that federal laws preempt or take precedence over state laws. As such, a state may not pass a law… …   Black's law dictionary

  • preemption — /pree emp sheuhn/, n. the act or right of claiming or purchasing before or in preference to others. Also, pre emption. [1595 1605; < ML praeëmpt(us) bought beforehand (ptp. of praeëmere) + ION. See PRE , EMPTOR] * * * U.S. policy that allowed the …   Universalium

  • Preemption Line — The Preemption Line (also spelled Pre Emption) divides the Indian lands of western New York State awarded to New York from those awarded to Commonwealth of Massachusetts by the Treaty of Hartford of 1786. It was defined as the meridian (north… …   Wikipedia

  • preemption — noun 1. the judicial principle asserting the supremacy of federal over state legislation on the same subject • Syn: ↑pre emption • Topics: ↑law, ↑jurisprudence • Hypernyms: ↑legal principle, ↑judicial principle, ↑ …   Useful english dictionary

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