What right may a condo association have regarding the sale of units?

A condo association may have a Right of First Refusal, which gives the association the opportunity to buy a unit before the owner can sell it to an outside buyer. This means, when a unit owner decides to sell their condo, they must first present the offer they receive to the condo association. The association then has a specified period to decide if they want to purchase the unit under the same terms as proposed in the offer. This right protects the condo community, allowing the association to maintain control over who lives in the building and potentially keep the property values more stable.

This mechanism ensures that any new residents meet the standards set by the community and can contribute positively to the living environment. It enhances the ability of the association to cultivate a desirable community atmosphere.

In contrast, the other choices provided do not accurately reflect rights typically held by condo associations in the context of unit sales. The Right of First Offer, for instance, involves an owner needing to offer the property to a specific party first before considering outside offers, which is not standard for condo associations. Similarly, the concepts of Right of Last Refusal and Right of Purchase are not standard terms in property transactions and do not accurately describe the authority typically granted to associations under condominium bylaws.