Lansdowne Development Co. v. Xerox Realty Corp.

In this appeal, we consider whether the contract between the parties to a real estate transaction required the purchaser to provide a deed of trust to the seller to secure the purchaser’s performance of rezoning proffers made by the seller to the local government, where the contract required the purchaser to assume the seller’s liability for the proffers.

BACKGROUND

Although the record in this complex land development case is quite extensive, we recount only those facts relevant to our resolution of the appeal. Xerox Realty Corporation (Xerox Realty), a wholly owned subsidiary of Xerox…