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Zuckerberg dispute over property agreement

Florida residents with an interest in real estate might know that Mark Zuckerberg was embroiled in a dispute associated with property he bought in California. According to court records, the Internet entrepreneur allegedly made promises to a developer in exchange for a price reduction on property he wished to purchase.

Reportedly, the developer informed Zuckerberg that he intended to build a home on a lot behind the entrepreneur's property. This, the developer said, would allow a clear view of Zuckerberg's house. He told the entrepreneur that he had been offered $4.3 million for the property. The developer offered Zuckerberg the property for a discounted price of $1.7 million if Zuckerberg agreed to introduce him to influential people. Court documents allege that Zuckerberg agreed, with confirmation by the developer's real estate agent. After the property was sold, the developer claimed the entrepreneur reneged on his promise.

The developer filed a lawsuit against Zuckerberg in 2014, saying Zuckerberg broke his unwritten agreement with the developer. In email correspondence Zuckerberg allegedly had with close associates, he maintained that he intended to help the developer casually.

Attorneys for Zuckerberg called the mechanism the developer used extortive. They contend that his actions were meant to embarrass and exploit Zuckerberg. The case was still ongoing at the time of this report.

Real estate disputes develop when either the seller or buyer feels that the outcome differed from the original agreement. As in this case, one party may contend that they were promised something that was not delivered. Speaking with an attorney may be beneficial in such a case. The attorney may assist an individual by reviewing the contractual obligations and determining if an agreement was broken. If so, the attorney may help the individual file a lawsuit against the other party.

Source: Business Insider, "'MARK ALWAYS KEEPS HIS PROMISES': Zuckerberg accused of breaking his word in a new real estate lawsuit," Madeline Stone, March 13, 2015

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