La. Civ. Code art. 2628
This is the official text of La. Civ. Code art. 2628, part of Louisiana’s Civil Code — louisiana's civil law tradition codifies persons, property, obligations, and family relations here rather than in a separate statutory code.
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Time limitation for option and right of first refusal
Official statutory text
An option or a right of first refusal that concerns an immovable thing may not be granted for a term longer than ten years. If a longer time for an option or a right of first refusal has been stipulated in a contract, that time shall be reduced to ten years. Nevertheless, if the option or right of first refusal is granted in connection with a contract that gives rise to obligations of continuous or periodic performance, an option or a right of first refusal may be granted for as long a period as required for the performance of those obligations.
Acts 1993, No. 841, §1, eff. Jan. 1, 1995; Acts 2003, No. 1005, §1, eff. July 2, 2003.
NOTE: See Acts 2003, No. 1005, §2, relative to application.
NOTE: See Acts 2004, No. 24, §§2 and 3, relative to application.
Acts 1993, No. 841, §1, eff. Jan. 1, 1995; Acts 2003, No. 1005, §1, eff. July 2, 2003.
NOTE: See Acts 2003, No. 1005, §2, relative to application.
NOTE: See Acts 2004, No. 24, §§2 and 3, relative to application.
Status: in_force · Read it on the official government site
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