The concepts of “right of first refusal” (RFR) and “option to purchase” (OTP) typically surface for farmers who are already leasing land but are interested in eventually purchasing the land. They are often overlooked as potential paths to farmland ownership, but can be great tools offering flexibility and security to both the landowner and the hopeful farmland buyer. Farmers who are seriously exploring these tools will want to fully grasp how they work and be aware of the potential issues that can arise.
To learn more about the concepts of rights of first refusal and options to purchase, watch our webinar Practicalities and Realities in Farmland Law Session 2 of 2. This webinar was originally created as part of a two-part series for agricultural service providers, but it is also just as helpful for farmers themselves. Part 2 of this series explores RFRs and OTPs, conservation Easements, and social justice and non-traditional land access strategies in three hours. The RFRs and OTPs section is in the first hour (starting at around 9min.). Start there to hear from Kathy Ruff from Land for Good and Rachel Armstrong from Farm Commons, as they dig into the details of these concepts.