Rozina v. Casa 74th Development LLC

*509The option agreement did not violate the rule against remote vesting (EPTL 9-1.1 [b]). Although a closing date was not specified in either the option agreement or the offering plan, which was incorporated by reference and made part of the option agreement, the closing was to occur with or after the completion of several contingencies, all of which were to occur by January 2010. Nothing in the option agreement or the offering plan demonstrated an intention that the option be held open beyond the 21-year period in EPTL 9-1.1 (b). It must, therefore, be presumed that the parties intended that…