diminution of value

• Real Property Damages and Rubber Rulers

During the past two decades, many articles and court cases have involved alleged diminution and damages to the value of real property resulting from a disamenity that influences a geographic area of values. "Alleged" is the key word because highly suspect analytical techniques frequently are the basis of the argument that a given disamenity results in a diminution or damage. Notably, at least two of these techniques -- hedonic analysis and contingent valuation -- are "rubber rulers," techniques that may be deliberately or inadvertently manipulated to achieve a preconceived result. This article discusses the fundamental concepts of damage and diminution to value, and appropriate and inappropriate methods for identifying and measuring diminution and damage if they exist. It also describes...

• Real Estate Issues
• Vol. 31 Nbr. 1, July 2006

• Martin v. Design Constr. Servs., (Ohio 2007)

Negligent construction – Damages to real property – Repair / restoration cost – Diminution of property value.

• Ohio Supreme Court

• Rental-Car Contracts Raise Coverage Stakes

Most insurance agents are aware that a standard personal auto policy does not cover all rental-car exposures. There's a gap between a renter's responsibility under the rental contract and what an auto policy will pay. About five years ago, rental companies began holding the renter liable for a "diminution of value" charge when a rental car was damaged. Most auto policies cover most of the repairs, but few cover diminution in value. To make a sound decision on transferring or retaining this risk, the renter needs accurate information. Providing that information is one of the primary responsibilities of an insurance agent. The agent who continues to tell clients that an auto policy will cover the majority of the damage to the rental car is misrepresenting his product. Such a statement can...

• American Agent & Broker
• Vol. 79 Nbr. 12, December 2007

• Swinderman v. Newcomerstown Tree Serv., (Ohio 2003)

Failure to permit contra evidence on diminution of value.

• Ohio Supreme Court

• Toyota Can't Arbitrate Sudden Acceleration Claims, Says U.S. District Court in California

Toyota can't compel the arbitration of class claims brought by customers who seek damages for diminution in the market value of their vehicles as a result of alleged defects that lead to incidents of sudden, unintended acceleration, a U.S. District Court in California has ruled. Toyota became the target of numerous personal injury and consumer protection lawsuits after being forced to recall millions of vehicles due to reports of sudden acceleration problems. (See "Plaintiffs' lawyers expect more claims against Toyota," Lawyers USA, Jan. 29, 2010.) The cases have been consolidated for multi- district litigation in U.S. District Court for the Central District of California. (See "Toyota MDL consolidated in Calif.," Lawyers USA, April 12, 2010.)

• Lawyers USA
• April 03, 2012

• Corbello v. Iowa Production and the Implications of Restoration Damages in Louisiana: Drilling Holes in Deep Pockets for Thirty-Three Million Dollars

Introduction. I. Basic Contract Law and Restoration Damages: Diminution in Value, Cost to Restore, and Fair Market Value. A. The Purpose of Remedies: An Overview of the Common and Civil Law Approaches. B. Louisiana Law Governing Damages Prior to Corbello v. Iowa Production. 1. Articles and Statutes. 2. Prior Jurisprudence. C. Common Law Methods: Cost to Restore, Diminution in Value, and the Disproportionate Test. 1. Restatement of Contracts: The Clearly Disproportionate Rule. 2. Jacob & Youngs v. Kent: The Development of the Clearly Disproportionate Rule. 3. The Ongoing Struggle between Groves and Peevyhouse. 4. Subsequent Case Law in Common Law Jurisdictions. II. Corbello v. Iowa Production: The Thirty-three Million Dollar Decision. A. Factual Background. B. The Majority Opinion. C. Th...

• Louisiana Law Review
• Nbr. 65-1, October 2004

• Barbara Ann Tudyman, (1996)

... hired Gary Halpin (Halpin) to estimate the value of her home after the earthquake. Halpin inspected... 157,364.02 Retrofit 50,000.00 Total diminution in value 207,364.02. E. Personal Property Damage T...

• United States Tax Court

• Court

The right to punitive damages does not survive the death of the wrongdoer, the Iowa Supreme has ruled. The plaintiff filed suit seeking damages for the diminution to the value of his property after the defendant tore out approximately 40 live trees. The suit sought compensatory damages as well as punitive damages.

• Lawyers USA
• August 19, 2011

• Martin v. Design Constr. Servs., Inc. (Slip Opinion), Slip Opinion No. 2009-Ohio-1

In an action based on temporary injury to noncommercial real estate, a plaintiff need not prove diminution in the market value of the property in order to recover the reasonable costs of restoration, but diminution of the market value may be a factor bearing on the reasonableness of the cost of restoration.

• Ohio Supreme Court

• Toyota Faces Economic Loss Liability in Acceleration Suits

Toyota may be liable for economic losses suffered by car buyers as a result of alleged sudden acceleration problems in the company's vehicles, a U.S. District Court in California has ruled in partially denying a motion to dismiss. The plaintiffs in the case are members of a putative class of U.S. car buyers who seek damages for the diminution in the market value of their Toyota vehicles caused by product recalls and reported accidents related to sudden unintended acceleration. (See "Plaintiffs' lawyers expect more claims against Toyota," Lawyers USA, Jan. 29, 2010.)

• Lawyers USA
• December 16, 2010