Document background
The Waiver of Right of First Refusal is a critical document used in Dutch business and property transactions when a party holding a right of first refusal wishes to formally relinquish this right. This document is commonly required in scenarios involving real estate transactions, corporate share transfers, or asset sales where an existing right of first refusal needs to be eliminated to facilitate a transaction with a third party. Under Dutch law, the waiver must be explicit and unambiguous, typically requiring notarial involvement, especially in real estate matters. The document should clearly identify the original right being waived, any consideration for the waiver, and whether the waiver is permanent or temporary. It's particularly important in the Netherlands where rights of first refusal can arise from various sources, including statutory provisions, shareholder agreements, and municipal regulations.
