17.34 Repurchase, Right To

17.34.1

In General

In its most generic form “right to repurchase” means the right of grantor to repurchase from a grantee, within a specific period of time and subject to certain terms and conditions, the property being conveyed. It may also be the subject of a separate agreement.

Frequently, “rights to repurchase” are confused with either “rights of first refusal” (Sec. 17.74) or “options to purchase” (Sec. 14.00).

Any right to repurchase in the chain of title of the property to be insured, unless disposed of, must be excepted in Schedule B of the title policy.