Hensley-O'Neal v. Metropolitan National Bank
Missouri Court of Appeals
297 S.W.3d 610 (2009)
In 1996, Greg Hensley granted Tanya Hensley-O'Neal (plaintiff), along with her heirs and assigns, a right of first refusal to purchase his property if he ever decided to sell, and the contract expressly bound Greg's own executors, heirs, successors, and assigns as well. The property was foreclosed on in 2002, and Metropolitan National Bank (defendant) bought it at the foreclosure sale. When the bank agreed to sell the property to a third party in 2008, Tanya sued for specific performance of her right of first refusal. The trial court granted summary judgment to the bank, ruling the right of first refusal was void under the rule against perpetuities, and Tanya appealed.
Whether the rule against perpetuities applies to a right of first refusal that binds not just the original parties but their heirs, successors, and assigns indefinitely.