Fredericksburg pair sue Boerne serious estate broker for fraud above sale of Hill Nation ranch

A Fredericksburg few has sued a Boerne true estate broker for fraud around the sale of their Hill Nation ranch.

Bruce Williams and his wife, Linda Davis, allege the broker made untrue representations and failed to disclose materials information in last year’s sale of the roughly 2,700-acre White Cross Ranch in Kerr County to a partnership affiliated with the broker.

The few seeks more than $1 million in damages from genuine estate broker Harold “Trip” duPerier III, his brokerage, the duPerier Texas Land Person, and other entities.

The defendants have denied the allegations, calling the lawsuit an “attempted shakedown by an opportunistic pair of plaintiffs who seek out in extra of $1 million additional than the $7.25 million they have now been paid from the sale of the White Cross Ranch.”

In a assertion, the duPerier Texas Land Gentleman claimed it has attempted to resolve the dispute “amicably and with out the expense of litigation, but to no avail.”

“The duPerier Texas Land guy brokers and brokers try to be the greatest specialists in the ranch profits company,” it said Monday. “It’s regrettable the sellers are unhappy with the benefits of their transaction.”

Williams and Davis in June 2020 signed a listing arrangement with the duPerier Texas Land Guy to promote the ranch. The company’s web site says its “client listing is composed of film stars, CEOs, tunes stars and other influential customers.”

The couple listed the ranch, which they acquired in 2010, for $8 million. At minimum a portion of the ranch has been utilized as looking grounds for indigenous wildlife and imported unique animals.

Henry McDonald, a New Mexico ranch proprietor, submitted an offer you and immediately after some negotiating, agreed to purchase White Cross Ranch for $7.25 million at the close of 2020.

In January 2021, Williams and Davis were being suggested that one more customer wanted to obtain the ranch for the similar price.

In accordance to the defendants’ response to the lawsuit, the acquire agreement “expressly named Henry McDonald and/or his assigns as the purchaser.” The defendants insert that the revenue deal did not have a prohibition on assignments. The agreement rather “explicitly contemplated” that McDonald could assign his legal rights underneath the deal to any get together.

DTB Investments L.P. stepped in as the customer.

Williams and Davis “became curious” about DTB and executed their possess exploration, their lawsuit states. They learned that duPerier was the principal of DTB. Point out company information exhibit duPerier is the manager of DTB’s basic partner.

The defendants verified that duPerier experienced an interest in the partnership and that he was getting the ranch “for his household to love,” the fit states. “Although plaintiffs were being anxious that this information was not disclosed, primarily based on the defendants’ representations, they determined to continue with the closing as scheduled.”

Immediately after the offer closed in February 2021, Williams and Davis claimed they realized that DTB had negotiated to invest in the assignment from McDonald for $571,500.

“Defendants unsuccessful to disclose that the precise purchase value of the house was $7,821,500” — the original order rate moreover the price tag for the assignment, the couple’s go well with suggests.

The illustration that duPerier acquired the ranch for his spouse and children to enjoy was untrue, Williams and Davis’ criticism adds. They say the “intent was to benefit from the home for improvement reasons and market it for a profit,” citing DTB’s March 2021 invest in of the 4,837-acre YO4 Ranch just to the north of White Cross Ranch.

In August, DTB offered 1,000 acres of White Cross Ranch to RRCT Ltd. of Kerrville. The couple thinks the land was marketed for “a substantially higher price” than DTB bought it from them six months earlier.

The next month, the match adds, DTB bought the remaining around 1,700 acres of White Cross Ranch and the YO4 Ranch to Will-O Ranch LP — another partnership affiliated with duPerier.

At the end of very last 12 months, Will-O Ranch offered the 1,700 acres and about 857 acres of the YO4 Ranch to Austin-centered 4B Ranch Companions LLC. Once more, Williams and Davis think the land was sold for “a substantially greater price” than what DTB acquired it for before in the year.

“We trustworthy and relied upon the DuPerier entities as our fiduciaries,” Williams and Davis claimed in an emailed assertion. “They owed us the maximum obligations recognised in the legislation. They misled, misrepresented and failed to disclose information and facts to us, their shoppers, for the sole goal of lining their own pockets.”

In addition to the fraud declare, Williams and Davis are suing duPerier, his organization and partnerships, and 1 of his brokers who dealt with the White Cross Ranch sale for breach of fiduciary duty, breach of contract and violations of the Deceptive Trade Techniques Act.

The defendants say the lawsuit is “baseless.” They add in their answer that the plaintiffs “were conscious of — and acquiesced to — a lot of of the actions they now complain about.”

The accommodate at first was submitted in February in Kendall County, but was eliminated very last thirty day period to point out District Courtroom in San Antonio.

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