Khoury
Citizens Savings & Loan Ass'n v. Khoury
Opinion
Lead Opinion
Kingsley, J.
Defendant appeals from a judgment ordering specific performance of an agreement to sell real property. We modify the judgment and affirm it as modified.
Defendant is the owner of a tract of land in Ventura County, on part of which his home is located. The property is subject to a deed of trust in favor of Dennis and Shirley Johnson. On July 10, 1975, he agreed to sell a portion of that property to plaintiff, who intended to construct thereon a branch office.- Under the terms of that agreement, defendant agreed to secure the necessary approval for a “lot split” dividing the part used as his home from the part to be conveyed to plaintiff. Plaintiff agreed to secure the environmental reports and administrative permits necessary for it to construct and occupy a branch office on the land to be purchased by it. The parties executed a deposit receipt and escrow instructions designed to carry out their bargain.
After the escrow was opened, defendant discovered that it would take much longer, and involve greater expense than he had anticipated to enable him to cariy out his agreement. The Johnsons were necessary parties to an application for the lot split and they had to agree…