McGuire v. Andre

STAKELY, Justice.

The pivotal question in this case is whether a written contract which is designated in the record as Exhibit G is a contract for the sale and purchase of real estate or is an option for the purchase of real estate. As will appear, if the contract is one for the sale and purchase of real estate, then the principle of equitable conversion will consider the real estate as personal property, when it is sold, subject to the laws of descent and distribution of the State of Kentucky. If on the other hand the contract is an option, then the lands embraced in the contract remain real…