law-right-of-first-refusal
See generally City of Brownsville v. Golden Spread Elec. Coop., Inc., 192 S.W.3d 876, 880 (Tex.
App.-Dallas 2006, pet. denied) (discussing law applicable to a right of first refusal).
Generally, a right of first refusal or preemptive right to purchase requires the owner of the subject
property to offer the property first to the holder of the right on the same terms and conditions offered by
a third party. When the property owner gives notice of his intent to sell, the right of first refusal matures
or "ripens" into to an enforceable option. The terms of the option are formed by the provisions granting
the preferential right to purchase and the terms and conditions of the third-party offer presented to the
rightholder. Once the property owner has given the rightholder notice of his intent to sell on the terms
contained in the third-party offer, the terms of the option cannot be changed for as long as the option is
binding on the property owner.
. . . When the rightholder gives notice of his intent to accept the offer and exercise his option, a contract
between the rightholder and the property owner is created. Id.
09-0545
JAMES KENNETH COLLINS v. STACEY LEIGH COLLINS; from Montgomery County;
13th district (13-07-00240-CV, ___ SW3d ___, 03-12-09)(clarification of divorce decree, right of first
refusal)