Jimmy Kyle v. J.A. Fulmer Trust

IN THE COURT OF APPEALS OF TENNESSEE AT JACKSON October 23, 2008 Session JIMMY KYLE, ET AL. v. J.A. FULMER TRUST Direct Appeal from the Chancery Court for Shelby County No. CH-01-1921-1 Walter L. Evans, Chancellor No. W2008-00220-COA-R3-CV - Filed December 9, 2008 This appeal concerns a purchase option in a lease of a tract of land in Shelby County, Tennessee. Executed in 1950, the lease had an initial term of 50 years and six months. In 1953, the Lessee exercised its option to renew, allowing possession for an additional 50 years through 2050. In 2001, the Lessee attempted to exercise its…