Claiming he was due to receive at least 20 percent of a property's sale price, a Collin County man is blaming another man for holding on to the property instead of attempting to sell it.
Larry G. O'Connor Sr., independent executor of Evelyn O'Connor's estate, filed a lawsuit Sept. 17 in Jefferson County District Court against Oren Knott.
Larry G. O'Connor Sr. claims Knott reached a settlement agreement with Evelyn O'Connor on April 13, 2005, in a lawsuit she filed against Knott.
In Evelyn O'Connor's original lawsuit, questions were raised about the ownership of a piece of property located in the Hillcrest Second Edition Acres in Nederland.
She finally reached a settlement with Knott, allowing him ownership of the property.
In return, Knott agreed to actively market the property for sale and to pay Evelyn O'Connor 25 percent of the net proceeds if the property sold for more than $350,000 or 20 percent if the property sold for $350,000 or less, the suit states.
Evelyn O'Connor died following the settlement, and Larry G. O'Connor Sr. has been appointed independent executor of her estate.
Now Larry G. O'Connor Sr. has filed suit against Knott, claiming Knott has not actively marketed the property for sale, thus depriving him of the 20 or 25 percent of net proceeds to which he would be entitled.
"In fact, Defendant has done nothing to effectuate the sale of the property," the complaint says. "The simple fact that the property has not been sold in four years is evidence that Defendant has not 'actively marketed' the property. This is a violation of both the Settlement Agreement and the Deed of Trust."
In his suit, Larry G. O'Connor Sr. alleges breach of contract.
He is asking the court for actual damages and to order a judicial foreclosure of the property and that the proceeds be split according to the settlement agreement.
He is also seeking pre- and post-judgment interest, attorney's fees, costs and other relief to which he may be entitled.
Wyatt D. Snider and Jason M. Byrd of Snider and Byrd in Beaumont will be representing him.
The case has been assigned to Judge Milton Shuffield, 136th District Court.
Jefferson County District Court case number: D184-945.