Russell Vanover, Jr. v. Martha Baker, in Her Capacity as of the Estate of Jack Vanover, Jr.

CourtCourt of Appeals of Kentucky
DecidedJanuary 4, 2024
Docket2022 CA 000345
StatusUnknown

This text of Russell Vanover, Jr. v. Martha Baker, in Her Capacity as of the Estate of Jack Vanover, Jr. (Russell Vanover, Jr. v. Martha Baker, in Her Capacity as of the Estate of Jack Vanover, Jr.) is published on Counsel Stack Legal Research, covering Court of Appeals of Kentucky primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Russell Vanover, Jr. v. Martha Baker, in Her Capacity as of the Estate of Jack Vanover, Jr., (Ky. Ct. App. 2024).

Opinion

RENDERED: JANUARY 5, 2024; 10:00 A.M. NOT TO BE PUBLISHED

Commonwealth of Kentucky Court of Appeals NO. 2022-CA-0345-MR

RUSSELL VANOVER, JR. APPELLANT

APPEAL FROM LAUREL CIRCUIT COURT v. HONORABLE GREGORY A. LAY, JUDGE ACTION NO. 21-CI-00218

MARTHA BAKER, IN HER CAPACITY AS EXECUTRIX OF THE ESTATE OF JACK VANOVER, JR.; MARTHA C. BAKER; AND RANDALL VANOVER APPELLEES

OPINION REVERSING AND REMANDING

** ** ** ** **

BEFORE: ACREE, GOODWINE, AND LAMBERT, JUDGES.

LAMBERT, JUDGE: This appeal addresses the validity of a right of first refusal

for a tract of real property contained in an Option Agreement and the application of

Kentucky Revised Statutes (KRS) 381.225. The issue on appeal is whether the

right of first refusal (the Refusal Option) constituted a restraint on alienation and,

thus, was void. The Laurel Circuit Court granted summary judgment in favor of the defendants, concluding that the 2016 option agreement was void ab initio, and

denied the plaintiff’s motions to amend the complaint and to alter, amend, or

vacate the judgment. We reverse and remand.

Jack Vanover Jr. (Jack) owned real estate in the Cold Hill Community

of Laurel County, Kentucky, and on October 25, 2016, Jack’s nephew, Russell

Vanover Jr. (Vanover), purchased property from Jack. At the closing, Jack and

Vanover entered into a separate Option Agreement related to a bordering, 5.55-

acre tract of real property. The Option Agreement provided as follows:

OPTION AGREEMENT

THIS OPTION AGREEMENT, is made and entered into effective as of October 25, 2016 (the “Agreement”), among Jack Vanover, Jr. of London, KY (“Seller”), and Russ Vanover (“Purchaser”).

WHEREAS Seller owns a certain parcel of real estate (“Property”) located in the Cold Hill community of Laurel County, Kentucky and more particularly described in Deed Book 641, Page 186 in the Laurel County Court Clerk’s office being more particularly described in the attached Exhibit 1; and

WHEREAS Purchaser desires to acquire the Property in fee; and

WHEREAS Seller desires to grant to Purchaser an irrevocable option to acquire the Property under the conditions set forth herein;

NOW, THEREFORE, in consideration of the foregoing premises and mutual agreements contained

-2- herein and intending to be legally bound the parties agree as follows:

1. Seller does here by grant to Purchaser an exclusive and irrevocable right of first option (the “First Option”) and right of first refusal, (“the Refusal Option”) but not the obligation, to purchase the Property commencing on the date of execution.

2. In consideration for this option, Seller acknowledges the receipt and sufficiency of consideration, namely one hundred dollars ($100.00). Receiving full payment for this option, the parties deem it an irrevocable option.

3. For the purposes of this Agreement, a bona fide offer requires: (1) an enforceable sales contract, signed by both parties with the owner’s receipt of nonrefundable consideration from the third party based on a percentage of the purchase price and (2) a letter of credit or other confirmation from a financial institution that the third party possesses the necessary funds to close the sale.

4. The Refusal Option will be triggered by any of the following events: (1) the Seller’s receipt of a bona fide offer as described herein, (2) a transfer of the Property to anyone other than the child of the Seller, and (3) any foreclosure on the Property (collectively, “triggering events”).

5. Upon receipt of a bona fide offer or occurrence of a triggering event, Seller

-3- shall notify Purchaser by certified, return receipt mail including all documents related to the bona fide offer, the third party and the triggering event.

6. The Purchaser shall have thirty (30) days within which to notify the Seller by certified return receipt mail, he intends to exercise his Refusal Option.

7. This agreement constitutes and contains the entire agreement between the parties and supersedes any prior agreements of the parties. Any waiver or modification of this agreement must be in writing and signed by all parties. This agreement may be executed in any number of counterparts all of which shall be deemed an original and all of which constitute one document. The invalidity of any one provision shall not affect the validity or enforceability of any other or remaining provisions. This agreement shall inure to and be binding on all successors, assigns, and estates of the parties and shall run with the land. All notices are to be sent via U.S. Mail, Facsimile or Courier to the addresses first set forth. This agreement shall be governed by the laws, rules and regulations of the Commonwealth of Kentucky.

8. The Purchaser shall pay all fees for the recording of this Agreement in the Laurel County Clerk’s Office, London, KY.

IN WITNESS WHEREOF, the parties hereto have executed this agreement effective as of the date first above written.

-4- By General Warranty Deed dated August 6, 2020, Jack transferred the

5.55-acre tract of property to his siblings, Randall Vanover (Randall) and Martha

C. Baker (Martha), which qualified as a triggering event under the Option

Agreement. This deed was filed with the Laurel County Court Clerk’s Office.

Based upon the foregoing, Vanover commenced the underlying action

on March 28, 2021, by filing a verified complaint with the Laurel Circuit Court

against Jack, Randall, and Martha (collectively, the defendants or appellees).

Because Randall and Martha were not Jack’s children, the Refusal Option was

triggered. Jack did not provide Vanover with his right to exercise the First Option

or the Refusal Option before conveying the property, and Vanover did not discover

that the property had been conveyed until seven months later. In his complaint,

Vanover alleged causes of action for breach of contract as to Jack, for tortious

interference with a contract as to both Randall and Martha (as they had knowledge

of the Option Agreement), and for temporary and permanent injunctive relief

against all of the defendants. Based upon these allegations, Vanover sought

compensatory damages, an order declaring his rights and interest in the land and

his right to purchase the property for fair market value, a trial by jury, pre- and

post-judgment interest, injunctive relief, and reasonable attorney fees.

The defendants filed an answer to the complaint, asserting that the

complaint failed to state a claim or cause of action upon which relief could be

-5- granted, disputing Vanover’s claim to recover attorney fees, and pleading several

affirmative defenses. They specifically argued that the Option Agreement was

unenforceable under Kentucky law because it failed to include an option price and

a stated duration (or expiration date in response to requests for admission).

In September 2021, the defendants filed a motion for summary

judgment. They argued that the Option Agreement was void and unenforceable

because (1) it did not include an option price at which Vanover could purchase the

property, and (2) it purported to be for an irrevocable, perpetual duration in

violation of KRS 381.225 and constituted an unreasonable restraint on alienation.

Although there was a dispute as to whether the $100.00 purchase price recited in

the Option Agreement had been paid (the defendants denied that it had been paid

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Russell Vanover, Jr. v. Martha Baker, in Her Capacity as of the Estate of Jack Vanover, Jr., Counsel Stack Legal Research, https://law.counselstack.com/opinion/russell-vanover-jr-v-martha-baker-in-her-capacity-as-of-the-estate-of-kyctapp-2024.