Prior right of purchase refers to the legal right granted to a person or entity to buy a property or asset before it is offered for sale to the general public. This right is often given to tenants or existing owners to maintain ownership of a property or asset. Synonyms for prior right of purchase include right of first refusal, pre-emption right, option to purchase, and first dibs. These terms are often used interchangeably and refer to a similar legal concept. Understanding the nuances of these synonyms can be important when negotiating contracts or agreements related to property or asset sales.