Not sure Minnesota l

Answer 1

Not sure Minnesota law would come into play here, since the right of first refusal was a contractual commitment between yourself and the 2 nephews. If the right of first refusal granted did not specify a time period during which the nephews are eligible to exercise the right and purchase the parcel, that means the offer was missing a key variable. If your nephews were to come back now and express their interest in utilizing their right to purchase, that would be fine, but if time goes by, and there's no exercise on their part, you must go back to them an confirm to them what time frame you had in mind fr the right of first refusal. The time element is a key component that must be stipulated in any right of first refusal scenario