Legal Question in Real Estate Law in Florida

Non-Profit A donates land to start-up Non-Profit B.

Agreement has clause which provides for land to revert back to A, if B fails. B has $150K debt.

Does debt come to A should it reclaim land ownership per original agreement/


Asked on 1/06/10, 9:50 am

1 Answer from Attorneys
Alan Wagner Wagner, McLaughlin & Whittemore P.A.

The debt does not come to A, but your questions is unclear about the transfer from A to B. The B debt may attach to the property and become a lien on it.

Read more
Answered on 1/11/10, 10:20 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in Florida