Legal Question in Real Estate Law in New York

Can the deed of a real estate deed carry an encumbrance of Right of First Refusal for a section of it in perpetuity? The deed claims that the ROFR "runs with the land."


Asked on 3/30/14, 10:17 am

1 Answer from Attorneys
Kevin Connolly Kevin J. Connolly

Nope. An option is not "vested." No interest is good unless it must vest, if at all, within 21 years after a life in being. The attempt to encumber the land with a perpetual ROFR means that no ROFR was created.

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Answered on 3/30/14, 10:38 am


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