Restriction on the building dating

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Patrick and Anna are cruising one fine Saturday when they spot their ideal mansion for sale. They place a deposit and sign a contract for $2 million. All the way home, they make plans about renovationsand additions. Their biggest plan is to add a top storey to the existing two-storey dwelling, to take inspectacular views over the nearby mountains.Their conveyancer rings them urgently the next week toadvise that there is a restriction on the building dating back one hundred years, limiting it to two storeys. The surrounding land has since been developed into one acre lots with well-spaced housing.

What can they do? Are they bound to accept this restriction? Explain in full

Reference no: EM131838968

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