Thursday, July 12, 2018
David H. Fishman and Edward J. Levin recently published an Article entitled, The "Charming Head" of the Rule Against Perpetuities, Probate & Property Magazine, Vol. 32, No. 4, July/August 2018. Provided below is an abstract of the Article:
The September/October 2017 issue of Probate & Property contained an extensive article regarding purchase options and rights of first refusal. Kathryn E Allan et al., Rethinking Rights of First Refusal, Rights of First Offer, and Options to Purchase, Prob. & Prop., Sept./Oct. 2017 at 48. The article commented that, regarding purchase options, the Rule Against Perpetuities can "rear its charming head regularly, albeit sometimes in useless desperation. This occurs in cases with purchase options under commercial lease where the purchase price in the option clause may bear no relation to current market value of the property.