Is it possible to put a stipulation in the sale of a house that if the buyer sells the house within a certain time period the seller would get a percentage?

My husband and I are getting divorced. Our house title is in the name of my
mother and me. My mother would like to sell him the house at a very low cost as
an act of kindness. However, to prevent him from turning around and selling it at
a big profit, she wants to put some sort of a contract that if he sells it within
the next 10 years that she would get 10 of the value of the house or whatever
the numbers wind up to be. Is this possible and if so, what is this called?

Asked on June 10, 2017 under Real Estate Law, Florida

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

Yes, this is legal: it would simply be part of the contract of sale for the house. Obviously, it may be tough to enforce--you'd have to know the amount he received for the house, and if he did not pay (if appropriate) the extra money voluntarily, would have to sue him for the money--but it is legal. A real estate attorney should be able to draw up a contract of sale incorporating this term.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.