Voorkeursrecht

The right of first refusal often arises from an agreement or by operation of law and confers on the holder a preferential position in respect of a proposed sale. The owner may not sell the asset to a third party until the beneficiary has first been offered the opportunity to acquire it on reasonable terms.

In practice, rights of first refusal are commonly encountered in relation to real property, shares and leasehold interests. They prevent the beneficiary from being sidelined and afford legal certainty in connection with future transactions.

In the event of non-compliance, the beneficiary may claim damages or, subject to certain conditions, seek annulment of the sale agreement concluded with the third party.