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Dan, Retired JD
Category: Legal
Satisfied Customers: 1164
Experience:  Retired attorney, general practice, with an additional background in financial planning,
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quit claim deed-states to have and to hold the premises ...

Resolved Question:

quit claim deed-states to have and to hold the premises herein granted unto the party of the second part, its successors and assigns, so long as the property is being used for eleemosynary purpose and improved and improved over a period of three years from the date hereof in the amount of $100,000 and should the party of the second part cease such use during said period or fail to demonstrate to party of the first part at the end of such period the expenditure of at least $100,000 on improvements to the property, as certifed by the second party''s accountant, then and in that event the title to said property shall revert to and vest in the party of the expenditure and use    the question I have does volunteer help count as part of the $100,000 inprovements to the property? thank you
Submitted: 9 years ago.
Category: Legal
Expert:  Dan replied 9 years ago.

The way that the language reads in the first reference to the $100,000, I would say it is open to debate (which means open to interpretation by a court), but the second use of the $100,000 figure is in language which seems to define what they mean by the $100,000 reference "the expenditure of at least $100,000 on improvements to the property, as certified by the second party's accountant". This language does not on its face seems to include 'sweat equity' but actual capital expenditures.

If the mater is material, it is likely that you are going to need a judge to define the term for you.

I hope this has been helpful. Let me know if you have any followup questions. If none, please remember to click on the ACCEPT link so that I may receive credit for working on this topic with you. (I'd greatly appreciate it!)

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