What is the name of your state (only U.S. law)? SC
Trying to summarize quickly: Father passes away. Leaves land in an estate to his children. Leaves land that is in "trust" to second wife. The children and the second wife want to sell the land in both the estate and trust together, as a unit, they are contiguous. However, they disagree over how the proceeds will be split. The value of each parcel enhances the other because the whole of it is desired by a hospital system. How is the value legally determined? The tax value of the estate land is much higher than the tax value of the trust land. However, the trust land has more acreage, and it is likely that the structures on the "estate" part will be torn down, while most of the "trust" land is raw land. Is there a precedent in case law?
Trying to summarize quickly: Father passes away. Leaves land in an estate to his children. Leaves land that is in "trust" to second wife. The children and the second wife want to sell the land in both the estate and trust together, as a unit, they are contiguous. However, they disagree over how the proceeds will be split. The value of each parcel enhances the other because the whole of it is desired by a hospital system. How is the value legally determined? The tax value of the estate land is much higher than the tax value of the trust land. However, the trust land has more acreage, and it is likely that the structures on the "estate" part will be torn down, while most of the "trust" land is raw land. Is there a precedent in case law?