Property Law Keyed to Kurtz
Hansen v. Stroecker
Facts
Mr. Hansen and Plaintiff signed an “Option to Purchase” agreement. Plaintiff paid Mr. Hansen $1500 for the option to purchase seven parcels of Mr. Hansen’s land. The agreement did not set a deadline for the exercise of the option or determine who would pay to survey the land to determine the square footage and total purchase price. After Mr. Hansen died, Plaintiff paid to have the land surveyed and then sent a check to Defendant for the remainder of the purchase price. Defendant refused to deliver the deed. Plaintiff filed suit seeking specific performance of the option agreement. The trial court found for Plaintiff, concluding that the agreement was not an option, but a real estate contract which conveyed a vested interest to Plaintiff. Both parties appealed. Defendant argued that the indefinite option period violated the rule against perpetuities and was therefore void.
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