Fredericktown Historical Society warns deed reverter clause could bar sale of former funeral home

Bill and Mary Elder of the Fredericktown Historical Society told the Village Council the society’s building at the old funeral home on W. College was sold to the society in 2002 for $1.00 and that the deed contains a reverter clause limiting occupancy to a 501(not-for-profit). "It has come to light that deed to the building includes a reverter clause that requires only a 501(not-for-profit) can inhabit the building," the Elders said, and they warned that restriction could prevent a future sale and leave the property empty as board members who handled the original transaction have died.

During public comment, visitor Steve Minor and Brett Well described interest in purchasing and renovating the building for events and community use. Minor said he intends to fix the property and allow the farmer’s market to use the building during inclement weather at no charge, and he told council he has sold several troubled properties he previously agreed to renovate. Council members said they were notified of the deed issue shortly before the meeting and asked for more time and legal research on why the clause appears in the deed and what options the village or society may have.