Most importantly in Commercial Law is the property generates income. This includes properties such as offices, retail space, restaurants, malls, factories, medical office, industrial, and flex / research and development space.
The taxpayer challenged the city's personal property tax assessment of its billboards. The court held that the city was entitled to use third tier methods of assessment to assess a taxpayer's billboards where there was no evidence of reasonably comparable sales. But, the court held that the assessor erred by basing the assessment solely upon the income approach because variables other than income-generating capability influenced fair market value.
a nexus existed for jurisdictional purposes, which was not broken by the pass-through nature of the REIT. The majority shareholder owned 100 percent of the REIT. The REIT generated some $10 million of rental income from store locations in Louisiana.
The real estate investor and the broker claimed that the seller, which retained them as its agent, sold the apartment complex to a subsidiary of a buyer that they introduced to the seller after rejecting the buyer's offer to purchase the apartment complex. The real estate investor asserted a breach of contract or quantum meruit claim against the seller. Plaintiffs also alleged that the seller and the co-venture cooperated to deprive them of the real estate commission, acting in bad faith.
The court first held that Counts I and V, where plaintiffs alleged that defendants had made material misrepresentations and omissions about net sales proceeds, were time-barred under O.C.G.A. ยง 9-3-31.
