Coulter & Smith, Ltd. v. Russell
Utah Court of Appeals
925 P.2d 1258 (1996)
Relevant factsFree
Coulter (plaintiff) drafted a letter offering to purchase subdivided lots from Russell and other landowners (defendants) after Coulter completed developing a subdivision, with the option set to expire two years after that undefined completion date; when development delays persisted for years and the defendants threatened to sell to another developer, Coulter sued for specific performance, and the trial court ruled the option agreement invalid.
IssueFree
Whether an option to purchase land is an interest in the land subject to the rule against perpetuities.
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