Wilkins v. Ferguson

MADDOX, Justice.

The question presented is the effect of a clause in a warranty deed which reserved to the grantor an option to repurchase. The deed, in pertinent parts, is as follows:

“THIS INDENTURE, Made the 17th day of June, 1969, between MILDRED *27E. WILKINS, a widow, GRANTOR, and ROBERT I. FERGUSON, GRANTEE; WITNESSETH, the GRANTOR, in consideration of Ten Dollars ($10.00) and other good and valuable consideration, hereby acknowledge to have been paid the GRANTOR by the GRANTEE, does grant, bargain, sell and convey unto the said GRANTEE, his heirs and assigns, all that real property in…