Answer to Question #202224 in Law for praise

Question

Twenty years ago, you sold about 8000 square meters of your large Constantia property to your neighbour, a non-profit organisation that provided recreational facilities for the disabled, so that they could use the land as a sports area. You sold it for a nominal sum but stipulated that if it were ever to be sold to be used as normal residential property you should be paid 60% of the price achieved. 3 The piece of land has passed through the hands of three non-profit organisations, all of whom have used it for the same recreational purpose. Sadly, lack of funding has now forced the facility to close and the property has been sold to a residential developer for a good commercial price. The seller wants to keep all the money to use it on a new charitable venture, but you need the funds and want to claim your 60% of the purchase price. Discuss what you believe your rights are in this case.

Answer 1

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