Archive | Appraisal Rule

PROVING FAIR MARKET VALUE BY THE MARKET DATA APPROACH. ARE YOUR COMPARABLES REALLY COMPARABLE?

An appraisal presents a pure factual presentation of data and information utilized by an expert to conclude to an opinion of value.  In New York State, an appraisal is required to be exchanged and filed pursuant to Court Rule.  22 NYCRR Sec. 202.61.  See Miriam Osburn Memorial Home Assoc. v Assessor of Rye, 2004 N.Y. Slip. Op. 50793 (U) (West. Sup. Ct. 2004). The Appraisal Rule allows the parties to prepare for trial with knowledge of each other’s valuations and the foundations and justifications thereof.  Parisi v State, 62 Misc2d 378, 382… read more

Posted in Appraisal Rule, Comparable Sales, Market Data Approach, Uncategorized
Read more > 0

WHEN A JUDGE DOESN’T GET IT

New York is one of three states in the union that does not provide for jury trials in condemnation matters.  Not only that, but there is a designated justice who is assigned to hear condemnation cases in every county.  Many of our out of state colleagues who practice eminent domain law find that having the same judge is almost as incredible as not having a jury. Most of the time, the judges assigned to the condemnation part are interested in the subject and become experts in the law.  Some courts… read more

Posted in Appraisal, Appraisal Rule, Date of Valuation, Summary Judgment
Read more > 1