Lawson v. REDMOOR CORPORATION

The defendant Redmoor Corporation (Redmoor) appeals from a declaratory judgment terminating Redmoor's preemptive right to purchase real property and quieting title in the plaintiff. We hold that the trial court properly ruled that the preemptive right is presumed to last for a reasonable period of time in the absence of a specified termination date, and that a reasonable period here was the last day of trial.

Redmoor bought a parcel of property (the Redmoor property) for $50,000 from Clayton and Margaret Ogden (the Ogdens) under a real estate contract dated October 31, 1973. At the same time…