Byke Const. Co., Inc. v. Miller

OPINION

GREER, Judge.

In this matter we have an opportunity to discuss a doctrine long cherished by law school professors and dreaded by most law students: the infamous rule against perpe-tuities. The facts in this matter are not in dispute.

Appellant, Byke Construction Corp. (Byke), sold certain real property to appel-lees, Leo and Vivian Miller (Millers). The escrow instructions executed by the parties contained the following option to repurchase:

IT IS UNDERSTOOD AND AGREED BY AND BETWEEN SELLER AND BUYER AS FOLLOWS:

3) Buyer agrees to begin house construction on the subject property on or…