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reported 20 The Point as their mailing address to the California
Department of Motor Vehicles.
15 Sandpiper
15 Sandpiper Strand (15 Sandpiper) is located in Coronado,
across the channel from 30 The Point and 20 The Point. 15
Sandpiper is a 4,000-square-foot waterfront house with four
bedrooms, three and a half baths, and a 100-foot dock.
After admiring the residence, Terry approached the owner of
15 Sandpiper about the property, requesting that he be notified
if the property became available for sale. On September 26,
1988, petitioners became aware of the availability of 15
Sandpiper. At that time, Terry was in Washington, D.C., and he
flew back to California immediately and on September 27
negotiated the purchase of 15 Sandpiper. The next day
petitioners listed 20 The Point for sale. On October 3, 1988,
petitioners executed a Real Estate Purchase Contract and Receipt
for Deposit with respect to the purchase of 15 Sandpiper. On
this document petitioners listed Mary Street as their address.
Because of a prior tax sale in 1988 and difficulties in obtaining
title insurance, an agreement was entered on November 18, 1988,
so that full defeasible title of 15 Sandpiper could be conveyed
to petitioners as trustees of the Beall Family Trust. The escrow
on 15 Sandpiper closed on November 21, 1988. The purchase price
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Last modified: May 25, 2011