Greif

I.

INTRODUCTION

This is a case of seller’s remorse. Appellant, defendant, and cross-complainant 1 Earl Greif sold 10 acres of raw vacant land (Property) in Rancho Mirage to plaintiff and

respondent Yardley Protective Limited Partnership, a family real estate investment

partnership. A few days after Earl signed the purchase agreement (Purchase 2 Agreement), he concluded he had sold the Property for less than its fair market value

1 We mean no disrespect by referring to Earl Greif and other individuals by their first names. We do so in some instances for purposes of efficiency, brevity, clarity, and avoiding confusion in this opinion. 2 Earl signed documents, such as the Purchase Agreement, on behalf of Shirley as her attorney in fact throughout 2012 and 2013, up until her death in April 2013.

2 (FMV) and attempted to back out of the sale. The Yardley partnership sued Earl, Earl’s 3 wife, Shirley Greif, and Gabriel Nicholas Limited Liability Company (collectively

GNLLC) to enforce the Purchase Agreement.

Greif filed a cross-complaint against the Yardley partnership and one of its limited

partners, Solail Ahmad (Yardley). Greif later added as cross-defendants Yardley’s…