Harris & Gurganus, Inc. v. Williams

BROCK, Chief Judge.

The covenant in question is, in effect, a contract between the parties calling for defendant to reconvey to plaintiff and for plaintiff to repurchase from defendant the lots in question for a specified price upon the failure of the stated conditions. Although there is scant authority dealing with covenants to build or reconvey, it would appear competent for a grantee, in a deed of real property, to agree to reconvey and for the grantor to agree to repurchase. See 7 Thompson on Real Property, § 3150, p. 64 (J. Grimes repl. 1962); Felton v. Grier, 109 Ga. 320, 35 S.E. 175…