Common Contracts
1 similar Right of First Refusal contracts
JAMES F. BOSSE, et ux.Right of First Refusal • May 5th, 2020
This declaratory judgment action presents two questions concerning a right of first refusal in a contract which, inter alia, granted reciprocal easemen ts in two adjoining tracts of land. The first issue is whether a gift of property to a charitable foundation constitutes a “sale” within the meaning of the right of first refusal because the donors will receive a tax benefit from the gift. The second issue is whether the right of first refusal provision in the contract violated the Rule Against Perpetuities. The Circuit Court for Anne Arundel County (North, J.) declared that the gift was not a “sale” within the purview of the right of first refusal and that the right of first refusal provision did not violate the Rule Against Perpetuities. We agree with the Circuit Court and shall affirm.
