It's called preemption, and it's a thing where I live. A compound's members can have preemption to acquire a property when an outside buyer puts their money in

It's called preemption, and it's a thing where I live. A compound's members can have preemption to acquire a property when an outside buyer puts their money in an escrow for a contract that's already been signed. The preemptees have 30d-1y to come up with the same amount to purchase the property themselves or accept the new owner. This way, property law isn't violated, because the seller still gets to sell their property for the agreed price no matter what others decide.