Old Port Cove Holdings v. Old Port Cove Condominium Association One
Florida Supreme Court
986 So.2d 1279 (2008)
Relevant factsFree
OPCI granted a right of first refusal on a parcel of property to a condominium association (defendant), letting the association match any third-party offer OPCI was willing to accept before selling to anyone else. Twenty-five years later, OPCI's successor (plaintiff) sued to quiet title, arguing the right of first refusal violated the rule against perpetuities; the trial court agreed and quieted title for the successor, but the court of appeals reversed, and the Florida Supreme Court took up the case.
IssueFree
Whether the rule against perpetuities applies to rights of first refusal.