In this case, the Iowa Court of Appeals affirmed the trial court’s interpretation of the method required in Iowa to execute an option to purchase under a will. Here, the testator had five children whom she named as residual beneficiaries under her 2003 will. Article V of that will gave one of the sons the first right to purchase the testator’s real estate at 65% of its appraised value. The option was to be exercised within six months of the date of the mother’s death or it would be “null and void.” When the mother died in January 2009, the son was appointed executor. Within 6 months of her death, the son filed a notice of his intention to purchase the property. In Dec. 2009, the son filed an application to purchase the real estate. Another sibling resisted, claiming that his brother had not properly complied with Article V of his mother’s will. The complaining brother claimed that the option had to be “executed” within six months of his mother’s death.
The trial court overruled the brother’s challenge and ordered the sale of the property to the executor son. On appeal, the court looked to the “four corners of the will” and the testator’s intent. In Iowa, options are general “exercised,” not “executed.” There was clear intent by the executor to purchase the property and this was given within the six month period. Thus, the sale to the executor was affirmed. In re Estate of Neddermeyer, No. 0-853/10-0963 (Iowa Ct. App. Dec. 22, 2010).