Legal Definitions - réméré

RÉMÉRÉ

réméré (ray-may-ray), n. [French] The right of repurchase.

Réméré is a French term that refers to the right of repurchase. It is a legal agreement that allows the seller to buy back the property they have sold, usually within a specified period of time and at a predetermined price.

For example, if a homeowner sells their house to a buyer but wants to repurchase it within a year, they can include a réméré clause in the sales contract. This clause would give the homeowner the right to buy back the property at a specific price within the agreed-upon timeframe.

Another example is when a business owner sells their company to an investor but wants to retain the option to buy it back in the future. They can negotiate a réméré agreement that allows them to repurchase the business at a predetermined price within a certain period of time.

These examples illustrate how a réméré agreement can be used to provide the seller with the option to repurchase the property or business they have sold, giving them more flexibility and control over their assets.