How can a first-refusal right affect a resale?
If the declaration or agreement gives a party this right, a proposed resale may require notice and an opportunity for that party to purchase on the terms the documents specify. The documents identify the holder, triggering transfers, procedure and response period. A developer's property report for the Villas at Disney's Grand Floridian is one resort-specific example that refers readers to the declaration and purchase agreement. Developer property report
What to confirm before closing
- Find the clause that applies to the exact interest and the type of transfer.
- Confirm the named holder, notice address, required contract terms and how the response period starts.
- Keep proof of submission and the written waiver or exercise decision, or the closing professional's documented confirmation of expiry under the clause.
- Check what the purchase agreement says happens to the deposit and closing if the right is exercised.
For other transfer conditions, see the closing checklist and the timeshare glossary.