How long does a right of first refusal last?
Generally speaking, a right of first refusal in a horse sale is a contract term that requires a horses new owner to first offer the horse for sale to the previous owner (and typically on certain terms) if the horses new owner later decides to sell the horse to another person. To avoid uncertainty and confusion, any contract containing a right of first refusal should specify when and if the right of first refusal will terminate, and upon what terms the horses must be offered to the previous owner for purchase. In your situation, you must look to the bill of sale that contains the right of first refusal to determine whether the former owner has any residual rights now that she has declined to repurchase the horses. If the bill of sale does not specifically state otherwise, the former owner’s right of first refusal automatically terminated when she declined to repurchase the horses, and therefore, the new owner will purchase the horses from you free and clear of any claims by the former o
