Property — rights of first refusal

By: WISCONSIN LAW JOURNAL STAFF//January 28, 2014//

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Wisconsin Court of Appeals

Civil

Property — rights of first refusal

Where the plaint terms of a right of first refusal provide that it is to Continue in effect until there is a sale of the property or the holder relinquishes its rights, the circuit court erred in holding that the right is terminable at will.

“With the analysis properly focused, we conclude the terms of the ROFR are reasonable as to price and time. The ROFR permits Tidy-View to purchase the property at its market value, and provides a relatively short period—fifteen days—in which Tidy-View must exercise its right by agreeing to purchase pursuant to the offer’s terms. The Foxes do not argue these provisions are in any way unreasonable.”

Reversed and Remanded.

Recommended for publication in the official reports.

2013AP679 MS Real Estate Holding, LLC, v. Donald P. Fox Family Trust

Dist. III, Outagamie County, Gage, J., Mangerson, J.

Attorneys: For Appellant: Hemaidan, Jordan J., Madison; Screnock, Michael P., Madison; For Respondent: Koehler, Charles D., Appleton

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