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Court determines meaning of 40-year-old sales contract
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Court Report
Wednesday, December 14, 2011
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When the purchasers of 6.56 acres of land bought property in 1972, they entered into a sales agreement with the sellers allowing them to have right of first refusal on the property adjacent to them, which the sellers still owned. Upon the death of the sellers, their estate sold the land to a third party. The original purchasers sued the estate and the title company involved in the sale, saying they still had the right of first refusal. Read on to find out how the Court of Appeals of Indiana settled the case.
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