Riverside Homebuilders v. FG Aledo Development

Texas Business Court·Decided July 29, 2026·No. 26-BC08B-0011·Published

Opinion

2026 Tex. Bus. 53

THE BUSINESS COURT OF TEXAS EIGHTH DIVISION

RIVERSIDE HOMEBUILDERS, § LTD., § § Plaintiff, § § v. § Cause No. 26-BC08B-0011 § FG ALEDO DEVELOPMENT, LLC, § § Defendant. §

══════════════════════════════════════════════════ MEMORANDUM OPINION AND ORDER GRANTING DEFENDANT’S MOTION FOR SUMMARY JUDGMENT ══════════════════════════════════════════════════ ¶ 1. Before the Court is Defendant FG Aledo Development, LLC’s (“FG

Aledo”) Traditional Motion for Summary Judgment. FG Aledo seeks judgment on

several independent grounds, including that the alleged contract upon which all of

Riverside Homebuilders, Ltd.’s (“Riverside”) claims depend is unenforceable under

the statute of frauds.

¶ 2. Having considered the parties’ briefing, the summary-judgment

evidence, the applicable law, and the arguments of counsel, the Court GRANTS the Motion on that ground. Because the statute of frauds resolves the case, the Court

does not reach FG Aledo’s remaining arguments.

INTRODUCTION

¶ 3. Riverside claims the right to buy 181 residential lots in Morningstar

Section 1-1, a subdivision in Parker County. FG Aledo developed that subdivision

and owns the land. Riverside’s claim hinges on a single document: the Morningstar

Contract. The issue presented is whether that document creates an enforceable

obligation to convey the lots.

¶ 4. Much of the parties’ briefing recounts the saga of how that document

came to be. FG Aledo contends that Kim Gill—the president of KTFW Investments,

Inc., FG Aledo’s sole manager—never signed the Contract or authorized anyone else

to sign it on his behalf. Riverside counters that a signature stamp bearing Gill’s name

was routinely used throughout the parties’ dealings and that whoever stamped it had

full authority to bind FG Aledo.

¶ 5. That dispute, alongside several others, takes up hundreds of pages of

briefing and evidence. There is no need, however, to untangle those factual knots

today.

¶ 6. For purposes of this Motion, the Court assumes—without deciding—

that Riverside could prove the Morningstar Contract was validly executed. Even

with that assumption in place, Riverside’s claims cannot survive if the contract itself

MEMORANDUM OPINION AND ORDER, PAGE 2 fails the statute of frauds. That question does not turn on who signed the document,

but on whether the contract sufficiently identifies the property that FG Aledo

supposedly agreed to convey.

¶ 7. It does not. The contract promises Riverside 181 lots somewhere within

Morningstar 1-1, but never identifies which 181 lots. Before Riverside could pick a

single lot, the contract required D.R. Horton—the subdivision’s “Other Builder”—

to first divide the development into two distinct pools. The contract provided no

objective criteria for making this initial division. D.R. Horton was thus free to split

the subdivision however it wished. Until D.R. Horton exercised that discretion, there

were no defined groups from which Riverside could choose—and no way for

Riverside, FG Aledo, or a court to determine which lots Riverside was entitled to

buy. The missing terms were not merely left unwritten; they did not exist. And a

contract that cannot identify the land to be conveyed, on the day it is signed, fails

¶ 8. This conclusion is dispositive. The Court therefore does not address

whether Gill authorized the contract, whether the parties mutually assented,

whether the agreement is illusory, or whether Riverside would otherwise be entitled

to specific performance.

MEMORANDUM OPINION AND ORDER, PAGE 3 BACKGROUND FACTS

¶ 9. The facts relevant to the statute-of-frauds analysis are largely

undisputed.

¶ 10. FG Aledo owned and was developing approximately 358 residential lots

in Morningstar Section 1-1. 1 Rather than building and selling homes itself, FG

Aledo’s business model was to develop the land and sell the developed lots to

commercial homebuilders.

¶ 11. FG Aledo’s ownership is split evenly down the middle. KTFW

Investments, Inc.—owned and managed by Kim Gill—holds a 50% interest and

serves as FG Aledo’s sole manager. Tim Fleet holds the other 50%. 2 Fleet also owns

and controls Riverside, the plaintiff in this case. 3

¶ 12. Prior to the events giving rise to this suit, FG Aledo had already

contracted to sell roughly half of Morningstar 1-1—about 179 of the 358 lots—to

homebuilder D.R. Horton under a separate agreement not at issue here. 4

¶ 13. Riverside claims it struck a similar deal for the remaining builder

position in the subdivision. The resulting document—the “Morningstar Contract,”

dated October 1, 2024—purports to grant Riverside the right to purchase 181 lots. 5

1 FG Aledo MSJ Ex. 1 (“Gill Decl.”) ¶¶ 6-7. 2 Id. ¶ 3. 3 Id. ¶ 4. 4 Id. ¶ 17; FG Aledo MSJ Ex. E (DRHI Contract). 5 Gill Decl. ¶ 8; FG Aledo MSJ Ex. A (“Morningstar Contract”) § 1.01(a).

MEMORANDUM OPINION AND ORDER, PAGE 4 ¶ 14. Unlike a conventional real-estate contract, the Morningstar Contract

does not identify the 181 lots by lot and block, metes and bounds, or recorded plat

(because no plat existed at the time). Instead, it identifies only the overarching

71.964-acre tract 6 and outlines a mechanism for splitting up the lots within that

tract at some later date.

¶ 15. Section 1.01(c) establishes that process. It mandates that before

Riverside can make a selection, the “Other Builder”—D.R. Horton—must first

divide all lots in Morningstar 1-1 into two equal groups. 7 Riverside then gets fifteen

days to pick one group, which becomes the “1-1 Lots” under the contract. 8 Crucially,

the contract gives D.R. Horton unfettered discretion in making that initial division.

The split could run north to south, east to west, in alternating rows, or any other

layout. Until D.R. Horton acted, there were simply no groups for Riverside to pick

6 Morningstar Contract § 1.01 & Ex. A attached thereto. 7 Section 1.01(b) of the Morningstar Contract defines the “Other Builder” oddly. It recites that “[c]urrently, the Other Builder is Riverside Homebuilders, Ltd.”—the same entity the contract calls the “Purchaser”— while also acknowledging elsewhere in section 1.01(b) that the “Other Builder” will be the entity acquiring “the Other Lots,” meaning those lots not sold to Riverside. This conflict and circularity was pressed by FG Aledo’s counsel at the summary judgment hearing. See FG Aledo MSJ at 23 (“The language appears to have copy/paste errors and circular references. . . .”). But the summary-judgment record leaves no genuine dispute that D.R. Horton was understood to be the Other Builder and was expected to perform the Section 1.01(c) division. FG Aledo had already contracted to sell roughly half of Morningstar 1-1 to D.R. Horton before the Morningstar Contract was signed, see Mem. Op. & Order ¶ 12, and at the summary-judgment hearing both sides—and the Court—proceeded on the shared understanding that D.R. Horton, as the subdivision’s other builder, would divide the lots and that Riverside would then choose between the resulting groups. See MSJ Hr’g Tr. 16:11–17:5 (colloquy confirming that “[D.R.] Horton gets to divide the 358” and Riverside “would just get to pick once it’s divided”); id. at 22:21–23:24; id. at 25:17–18 (Riverside’s counsel acknowledging that D.R. Horton would divide the lots and Riverside would pick the lots). The Court accordingly treats D.R. Horton as the Other Builder for purposes of this Motion, notwithstanding the contract’s imprecise drafting. 8 Morningstar Contract § 1.01(c).

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