814 Property Holdings, LLC v. New Birth Baptist Church Cathedral of Faith International, Inc.
Two owners of a two-unit condominium disputed a declaration clause giving Unit 1's owner a $200,000 fixed-price option to purchase Unit 2, tied to FCC approval for transfer of a radio antenna designated a limited common element. The Third DCA affirmed summary judgment for the Unit 2 owner, holding the fixed-price, indefinite-duration purchase option in the condominium declaration was void as an unreasonable restraint on alienation under Iglehart v. Phillips.
Key facts
- 814 Property Holdings, LLC and New Birth Baptist Church Cathedral of Faith International, Inc. were owners of Units 1 and 2 in a two-unit condominium.
- The condominium declaration contained a clause granting Unit 1's owner a $200,000 fixed-price option to purchase Unit 2, conditioned on FCC approval for transfer of a radio antenna designated as a limited common element.
- +2 more key facts with a free trial
Why it matters
This is a useful Third DCA application of Iglehart v. Phillips to condominium declarations, confirming that fixed-price options of indefinite duration embedded in recorded condominium documents are void restraints on… — full analysis with a trial
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