Cipriano v. Glen Cove Lodge 1458
New York Court of Appeals
POINTS OF COUNSEL
1Opinion of the Court
OPINION OF THE COURT
Rosenblatt, J.
In this real property case, we are called, upon to adjudicate the rights and remedies of the three parties before us: the holder of a right of first refusal, the buyer of the property and the seller.
L
In June 1955, five trustees of the Benevolent and Protective Order of Elks, Glen Cove Lodge #1458 (Lodge) entered into a stipulation with Gasper Buffa—who was selling a parcel of land to the Lodge—that promised Buffa a “first option to repurchase” the property at fair market value in the event the Lodge offered the premises for sale. 1 For the first three decades…
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