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Tag Archives: Valuation

Domestic Relations – Equitable Distribution – Unequal Division – Distributive Award – Valuation (access required)

Peltzer v. Peltzer Even though the equitable distribution order does not explicitly state what percentage of the marital estate is distributed to which party, the unchallenged findings and a little math show that the defendant-husband was awarded 55 percent of the marital estate, rather than the 20 percent he claims to have been awarded.

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Taxation – Personal Property – Valuation – Computer Equipment – Depreciation – Burden of Proof (access required)

In re Appeal of IBM Credit Corp. Even if we were to remand this case (for a third time), the Property Tax Commission would be well within its authority to find, yet again, that the taxpayer’s evidence is not “reliable” or “credible.” Even if the Commission rejects the taxpayer’s evidence, the taxpayer still wins because the county did not meet its burden of proof.

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Insurance – Fire – Loss Compensation – Motel – Valuation – Appraisal Process (access required)

Patel v. Scottsdale Insurance Co. The parties’ insurance policy gives the defendant-insurer the option of paying either fair market value or replacement value for the plaintiff’s hotel, which was destroyed by fire. However, instead of granting summary judgment for the insurer, the trial court should have stayed this action until the parties completed the appraisal process set out in the policy.

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Partnerships – Partner’s Withdrawal – Purchase of Interest – Valuation – ‘Inventory’ (access required)

EHP Land Co. v. Bosher When a partner decided to withdraw from the parties’ partnership, the partnership agreement required the partnership to pay the withdrawing partner an amount that was based in part on the partnership’s “inventory”, but the agreement did not define that term. The trial court correctly applied the ordinary meaning of “inventory.”

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Real Property – Taxation – Valuation – Lack of Infrastructure – ‘Condition Factor’ (access required)

In re Appeal of Ocean Isle Palms LLC A taxpayer’s failure to contest the valuation of its property in 2008 and 2009 did not prevent the taxpayer from challenging the same valuation in 2010. However, there were genuine issues of material fact as to whether the county’s 2007 Schedule of Values was misapplied.

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Domestic Relations – Equitable Distribution – Valuation – Stipulation – Husband’s Business – Good Will (access required)

Lane v. Lane Even though the plaintiff-wife now contends that there was a second mortgage on the marital residence that was used to buy an automobile, the parties stipulated in the pretrial order that the fair market value of this vehicle was $6,800 and that it was to be distributed to the wife, but the parties specifically did not stipulate as to whether there was a lien on the vehicle. Where the parties entered into an unequivocal stipulation that the mortgage on the residence was “now paid and no liens on residence,” the wife is bound by her stipulation and cannot disavow it on appeal.

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