Contracts—Right of First Refusal (ROFR)— “Stranger to the Deed” Rule Inapplicable and Therefore Did Not Render Unenforceable a Pre-emptive ROFR That Was Contained in Certain Deeds—ROFR Did Not Run With the Land
THIS CASE involved claims concerning a right of first refusal (ROFR) embodied in various deeds. Although the plaintiffs had agreed to the ROFR in two deeds and had “thereafter expressly reaffirmed that right by placing same in a quit claim deed when transferring the property to a limited liability corporation” (LLC) and “after participating in a celebrity-studded publicity campaign to induce the defendants into waiving that [ROFR], plaintiff now asserts that the [ROFR] held by the three answering defendants is contrary to the ‘stranger to the deed’ rule,” (rule) “and should be declared void and unenforceable.” After noting that such issue is “apparently one of first impression,” the court held that the rule was inapplicable to the ROFR.
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