Purchase Options and Rights of First Refusal/First Offer - Lease

Description

This smart field captures a tenant's (or lessee's) option to purchase leased property as well as rights of first offer or refusal to purchase the same. It can be used in combination with the 'Does the lease contain a purchase option in favour of Tenant/Lessee?' and 'Does the lease contain a purchase ROFO/ROFR?' answer fields. This smart field was trained on North American commercial real estate leases and equipment leases.