Overview
- Buyer John Franklin says he signed a purchase agreement in March and that the seller did not close on the May 12 scheduled closing date.
- Franklin's lawsuit alleges the seller failed to deliver clear title because it could not produce paperwork tied to existing mortgages on the property.
- The seller's lawyers say Franklin did not perform his obligations by failing to provide a required $2.5 million deposit and that notices of default were issued to him.
- Franklin points to a mediation clause in the contract, says he will attend mediation, and is asking the court for specific performance to force the sale while protecting his interest.
- The dispute involves property owned through 1 West Star Island LLC and comes against a backdrop of federal searches of the Star Island compound in March 2024, Combs's current incarceration, and wider civil litigation that could affect how the asset is handled.