The grant extended from the Pacific Ocean on the west, to Mount Tamalpais to the north, and the Arroyo Corte Madera del Presidio and Richardson Bay on the east; and included present-day Muir Beach, Stinson Beach, Sausalito, Tamalpais Valley, and Homestead Valley.
[6] With the cession of California to the United States following the Mexican-American War, the 1848 Treaty of Guadalupe Hidalgo provided that the land grants would be honored.
In 1856, ailing and in financial straits, Captain Richardson put Rancho Saucelito into the hands of an administrator, Samuel R. Throckmorton, and died two months later.
[10] [11] Samuel Reading Throckmorton (1809 - 1883), who had come to San Francisco in 1850 as an agent for an eastern mining business, was the administrator of Richardson's estate.
In 1868, Throckmorton sold to a group of San Francisco businessmen who called themselves the Sausalito Land & Ferry Company.