We wanted to provide a brief update on an interesting real estate litigation case that Roscha & Odne LLP handled for a client concerning a written option to purchase real property. After efforts to informally resolve the case were unsuccessful, R&O represented our client in a 4 day bench trial in Contra Costa County Superior Court. After extensive post-trial briefing, the Court entered a Judgment fully in our client’s favor, granting specific performance and awarding all attorneys fees and costs incurred to our client as the prevailing party. The Court also found no liability against our client on a Cross-complaint filed by the Defendant.
Just recently, our client closed escrow on the property that was the subject of the dispute at trial. Our client was also credited at Closing with the attorneys fees and costs he incurred after we had perfected his real property lien rights against the Defendant’s real property.
Ultimately, one should be fully aware of carefully understanding the legal requirements and implications before entering into a written option to purchase or sell real property (or extending rights of first refusal/offer to tenants/co-owners) as the consequences can often prove significant and harmful to the non-prevailing party, as this recent case shows.