Voorkeursrecht is a legal term in Dutch law that translates to “preference right” in English. It refers to the right of first refusal, where a party has the right to purchase a property before it is offered to others. This right is commonly used in real estate transactions, but can also apply to other types of assets such as stocks or business interests.
Voorkeursrecht is typically established through a contractual agreement or legal provision, and is designed to protect the interests of a particular party. For example, a landlord may grant a tenant a preference right to purchase the property they are renting before putting it on the market. This allows the tenant to secure the property without having to compete with other potential buyers.
In some cases, voorkeursrecht can also be extended to a group of individuals or organizations, such as members of a homeowners association or shareholders of a company. This ensures that existing stakeholders have the opportunity to maintain their ownership stake in the asset before it is sold to an outside party.
It is important to note that voorkeursrecht does not guarantee that the party with the preference right will ultimately purchase the asset. If they are unable or unwilling to meet the terms of the offer, the seller is free to move forward with other potential buyers.
Overall, voorkeursrecht serves as a valuable tool in protecting the interests of certain parties in a transaction. By providing a right of first refusal, it allows them the opportunity to maintain their position and potentially secure a valuable asset.