Dorado Ltd. Partnership v. Broadneck Development Corp.

ELDRIDGE, Judge.

This case involves the question of whether a contract for the sale of land, under which title may not be transferred until an indefinite date, is enforceable. Because the buyer’s interest may vest too remotely, we hold that the contract in the case at bar violates the Rule Against Perpetuities.

On June 23,1981, Dorado Limited Partnership and Broad-neck Development Company entered into a contract to sell real property located in Anne Arundel County. Under the contract Broadneck agreed to sell 70 lots to Dorado for $280,000. In addition, Broadneck granted Dorado an option to…