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DRAFT FOR ATTORNEY REVIEW — NOT FINAL

section 17980

Citation
section 17980
Parent Document
City of Santa Monica v. Gonzalez, 182 P.3d 1027 (2008)
Jurisdiction
California (state)
Effective Date
2008-05-19

Other Sections in This Document (159)

Full Text

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Second, the receiver presented evidence that he had investigated two alternative solutions for the property: (1) repairing and rehabilitating the existing structure, and (2) demolishing it. The bids the receiver solicited for each alternative reflected that rehabilitation would cost approximately $145,000 and yield real property worth $450,000 (thus resulting in equity of approximately $305,000), while demolition would cost $54,000 and yield a lot worth $509,000 (resulting in equity of $455,000). Thus, a sale of the property would yield $59,000 more after demolition than after rehabilitation.