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CONTRIBUTION AGREEMENT between by Urban Edge Properties LP Form

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CONTRIBUTION AGREEMENT between by Urban Edge Properties LP Form

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now in the deed of a freehold estate the seller can put conditions in that d now just a quick reminder the deed is like the sales slip the receipt for the real estate transaction just a quick reminder of what the deed is so uh these conditions there are two these are very interesting the first one is called the condition subsequent and that prevents that prevents uh the new owner in fact uh it prevents all future owners all future owners from using the property in um whatever is prevented so let me just give you a kind of a classic example here a house of worship house of worship they own a property and they want to sell it now the house of worship has certain faith-based beliefs so let's take an example they don't believe in the consumption of alcohol so when they sell the property they put in a condition subsequent that says no liquor license in the future uh at that property because in no way shape or form do they want to uh directly or indirectly uh profit or be inv

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