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 leases where the purchase price in the option clause may bear no relation to current market value of the property.
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