preemption

n. [ Pref. pre- + emption: cf. F. préemption. See Redeem. ] The act or right of preemption. Specifically: (a) The act or right of purchasing before others. (b) The privilege or prerogative formerly enjoyed by the king of buying provisions for his household in preference to others. [ Eng. ] (c) The right of an actual settler upon public lands (particularly those of the United States) to purchase a certain portion at a fixed price in preference to all other applicants. Abbott. [ 1913 Webster ]