The Legal Environment of Business: Text and Cases (MindTap Course List)
10th Edition
ISBN: 9781305967304
Author: Frank B. Cross, Roger LeRoy Miller
Publisher: Cengage Learning
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Chapter 26, Problem 2BS
Summary Introduction
Case summary :The county intends to rezone the area from industrial to residential use. The area which will be effected is largely undeveloped. The country expected that the market value of the land will fall by 50
To find: The right to sue the authority for the claim of compensation by landowners.
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Students have asked these similar questions
The City of Dover needs land owned by the Smith family to expand Route 13/North
DuPont Highway. The Smith family does not want to sell.
Discuss what course of action the city can take and the legal and constitutional
basis for this action.
What, if anything, can the Smith family do in response?
Subdivision of large tract of land primarily controlled by:
a) building codes
b) the local market
c)state law and local subdivision ordinances
d) federal law through the land sales full disclosure act
A 12-unit apartment building in Newton, Massachusetts was acquired for $8,000,000 with a 70% LTV purchase money mortgage at a 5.25% annual interest rate fully amortizing over 30 years. The new owner substantially improved the building, renovating the exterior and interior. She also implemented several environmentally friendly cost-saving measures, including the installation of solar panels on the roof, that saved energy and reduced operating expenses. After two years, these upgrades and improvements led to a substantial increase in the property’s NOI to $580,000 from a net operating income of $500,000 at the time of the acquisition. What was the acquisition cap rate?
a.7.25%
b.5.25%
c.6.25%
d. 8.25%
Chapter 26 Solutions
The Legal Environment of Business: Text and Cases (MindTap Course List)
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