buying and selling land - option to purchase/ROFR

Question 1

option to prucahse

Answer 1

an option to purchase will confer an equtiable interest to the holder, this is because the p can choose when to invoke the right

Question 2

ROFR

Answer 2

the right of first refusal will not confer an equitable interest to the holder, this is bc the v gets to choose if/when to trigger the right, howver a rofr can morph into an option once the v has triggered the rofr, (when decided to sell)

Question 3

palm gardens

Answer 3

court wegh up all of the diffenrt parts of the transaction to decifer whether the v retained ultimate control over the sale or not
here is was a true condition precendent pg never had an option to purchase but this was contingent on the units being completed and rented out, units were never rented and thus option never arose