Section 18.38 Special-Purpose Property Rule—No Active Market for Certain Realty
| Library | Tort Law 2016 |
d. (§18.38) Special-Purpose Property Rule—No Active Market for Certain Realty
Despite the general rule, fair market value cannot always be used to ascertain damages. Certain special-purpose properties, such as schools, churches, colleges, and cemeteries, are not sold on the open market. Thus, there is no active market from which diminution in value can be determined. Leonard Missionary Baptist Church v. Sears, Roebuck & Co., 42 S.W.3d 833, 836 (Mo. App. E.D. 2001).
In Leonard Missionary Baptist Church, 42...
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