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Dad decides he wants to transfer Blackacre to his Son. Blackacre is worth 100k. He does not want to have his son pay interest, and he does not want to give Blackacre to his son outright. So, he decides to enter a series of (10) 1-year put agreements with his son. The put agreement is an agreement by which Dad can require Son to buy the 1/10 of the property each year for 10k. It is Dad’s intent to either require Son to buy 1/10 each year or to gift Son 1/10 each year depending on Dad’s economic situation. Will this structure be respected? What if Dad required 50k of option consideration up front?
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