Story v. Walcott

A grantee, by acceptance of a deed, “becomes bound by the stipulations, recitals, conditions, and limitations therein contained, even though he has not signed the deed.” 26 C.J.S. pp. 259-260, Deeds, sec. 53. This rule is recognized generally and by this Court. 16 Am. Jur. p. 645, Deeds, sec. 358; Raynor v. Raynor, 212 N.C. 181, 193 S.E. 216; Stephens Co. v. Lisk, ante, 289, 82 S.E. 2d 99.

The crucial question is whether the quoted provision is void as an unlawful restraint upon alienation, repugnant to the nature of the estate granted, or valid as a personal pre-emptive right granted C. O.…