Cambridge Co. v. East Slope Investment Corp.

700 P.2d 537 (Colo. 1985)

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Nature of the Case

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Facts

East Slope owned a condo in the Tenmile Creek Condominiums. The land was subject to a first right of refusal on all sales to all other condo owners at the complex. East Slope wanted to sell its unit and sold it to the Burgetts. A notice was mailed to all condominium owners of the impending sale. Cambridge exercised its preemptive right and tendered the money to buy the condo on the same terms and conditions as the Burgetts. East Slope was informed and still conveyed the condo to the Burgetts. Cambridge sued to enforce the first right of refusal. The issue at trial was the violation of the rule against perpetuities by this first right of refusal as it was a contingent equitable interest in real property subject to the rule.