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Issue: Does a deed restriction which states that a grantor or its successor may repurchase a property after the tract has ceased to be used for its deeded purpose, fall under the Rule Against Perpetuities?
Rule: Where a clause maintains that upon abandonment, payment of a certain sum of money will follow, the interest can be seen as either a repurchase option or a fee simple subject to a condition subsequent.The distinction is important because a repurchase option is subject to the Rule Against Perpetuities, while a fee simple subject to a condition subsequent, being a vested interest, is not.Note: The court held that this restriction was a repurchase option rendered void by the rule against perpetiuties.CHAPTER 4 .

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