Smith v. Smith

BECTON, Judge.

I

Factual and Procedural History

On 1 December 1074, Peary Davis executed a deed conveying a 249 acre tract of land in Duplin County to plaintiffs, his daughters. On the same date, plaintiffs and Davis executed a lease in which plaintiffs agreed to lease the property to Davis for the term of fifteen years. The lease also provided: “The annual rental during said period shall be determined by agreement between the parties at the expiration of each twelve (12) month period.’’ Both documents were recorded on 9 December 1974. Peary Davis died on 22 January 1982.

Plaintiffs filed this…