Real Estate Experts: Some Further Observations

Fall 1999, Vol 24, No 3 Abstract: Starting with the first offering of GNMA securities in the early 1970s, the real estate industry has been in a state of rapid change. The securitization of the mortgage markets, institutional ownership, investment trusts, globalization, and information technology have fostered a new era in valuation analysis and the people… Read more

Real Estate Counseling in Litigation: Illustrated by Eminent Domain

Fall 1999, Vol 24, No 3 Abstract: With the increasing complexities of real estate and its valuation, an experienced counselor provides added knowledge and flexibility to customize the preparation and presentation of a case. While not all are suited and not all are willing, appropriately qualified real estate counselors provide the needed attributes. They must be… Read more

Damage Awards as Public Policy in Inverse Condemnation Litigation

Fall 1999, Vol 24, No 3 Abstract: Inverse condemnation occurs when a government body effectively takes private property without just compensation, usually by a regulatory process. This is referred to as a “regulatory taking” which can be litigated as an inverse condemnation. The number of landowners claiming regulatory takings has increased as the number of environmental… Read more

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Are Lease Renewal Options a Good Idea?

Fall 1999, Vol 24, No 3 Abstract: Landlords frequently grant lease renewal options to tenants but is this practice wise from the viewpoint of the property owner? Lease renewal options induce a host of complex issues, which would lead to the logical conclusion that, all things being equal, the granting of such options is not a… Read more

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Whose Property Is It? The Latest on Regulatory Takings

Fall 1999, Vol 24, No 3 Abstract: Who sets the limitation on property development and how far can the limits go? Inherent in the controversy is the interest of state and local governments to exercise land use controls. Limiting the right to exercise these controls is the Constitution’s Fifth Amendment which prohibits the taking of… Read more

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Toxic Tax Assessments: The Ad Valorem Taxation of Contaminated Property

Fall 1999, Vol 24, No 3 Abstract: In tax assessment review proceedings involving contaminated property, taxpayers typically contend that property value is substantially impaired or erased by the presence of environmental contamination. Some taxpayers contend contaminated property has no value even when it is fully usable and the taxpayer is liable for the cleanup. These cases present courts with difficult and competing questions of law, equity,... Read More

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