Residual Rights Purchase
Works displaying (Residual Rights) are under obligation to sell only via a contractual agreement described as a Residual Rights Purchase Plan. Basically the purchaser agrees that in the event of all future sales of the work of art, the owner must pay 50% of funds resulting from sale to the artist. Possession of the art is with the purchaser. The decision to keep the art or to sell remains with the purchaser. The work of art is bound by the agreement in perpetuity.
If you would like to see the agreement for a residual rights purchase, use contact to request a copy. Include the work of art you are inquiring about.
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