St. Regis Paper Co. v. Brown

I am somewhat astounded by the majority’s suggestion that we are, for the first time, “establishing a rule for Georgia” with respect to whether an option to purchase real estate contained in a lease is violative of the rule against perpetuities. Although the majority of the cases before this court concerned with the validity of options to purchase realty have involved options which are not contained in a lease, the rule of law upon which these cases rest is as follows: “An option to purchase realty or an interest therein which [fails to meet the requirements of Code § 85-707] as to the time…