I would be most worried about the costs of improvement. Depending on the land, it may have cost a fortune to make it arable, and a huge investment in materials and equipment to turn it into a modern, producing farm. So we aren’t just talking about returning a piece of land in the condition it was taken.
I don’t know how much effort it took to raise the agricultural productivity of the land, but that effort is real and it took a lot of money to do it.
What happens if a farm is expropriated, and the farmer responds by deciding to return it to the condition it was in when it was taken? Let’s say he sells off every piece of machinery, tears down fences to sell for scrap, torches the buildings, and re-sows the field with rocks and other materials that had to be removed when it was first prepped for agriculture, thereby restoring the property to the state it was in when the whites took it. Would that be okay?
But my biggest worry, and I would say this has a high probability of happening, is that this will be a disaster for everyone. Agricultural output will decline, external imvestment will decline, and all the specialized knowledge and local economies around farming will be devastated. The result could easily be a severe economic contraction and a reduction in the standards of living for both whites and blacks.
See what happened in Russia when they strung up the Kulaks and took their farms for much the same reason. Or what happened in Cambodia when the Khmer Rouge killed the educated people who knew how to run things. These are complex systems with webs of communications and lots of local and specialized knowledge in the heads of the farmers.
I would also be very worried that the land will be divvied up based on political power and not necessarily go to those most capable of utilizing it. What if the former owner of the land is old, and his children have little education and no knowledge of farming? What happens to the country when major farms are ‘given back’ to people who have no idea how to run a modern farm, or who don’t have the work ethic to keep it up? For that matter, how are they supposed to raise operating capital if they have no money and no credit?
My guess is that the helpful government will ‘step in’ and before long most of these places will either be state owned, or they’ll find a way to benefit their cronies and either hand the land to them, or give the land to the ‘rightful owners’ but only if they accept a lease deal that lets other people run it. Probably a very bad lease deal or some other similar arrangement. The Kulak’s land eventually wound up being controlled by political functionaries and not farmers, with very predictable results.