§ 41-29. Options in gross, etc. - North Carolina Statutes

§41‑29.  Options in gross, etc.

An option in gross withrespect to an interest in land or a preemptive right in the nature of a rightof first refusal in gross with respect to an interest in land becomes invalidif it is not actually exercised within 30 years after its creation. Forpurposes of this section, the term "interest in land" does notinclude arrangements relating solely to an interest in oil, gas, or minerals. (1995,c. 525, s. 1.)