54. Options
1. "(T)he right to purchase created by an option may be a substantial
and valuable right.... although we decline to rule that any option to purchase
land is of value compensable in a condemnation action, where the exercise of the
option is a foregone conclusion we hold that the option is a valuable right compensable
in such an action." (7) [as where, after 22 years, the value appreciated considerably
from the option price of $400 per acre - although, it would seem that the prospect
of exercising the option should go to its weight, not its admissibility. This
deviates from the concept of the "market value of the property", for an option
to purchase adjacent lands will not pass with the title. (c.g.)] State,
Dep't of Transp. v. Las Vegas Bldg., 104 Nev. 479, 486, 761 P.2d 843 (1988)
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