Valuation of lessor's interest must reflect rent stream and reversionary value adjusted for rent control and renewal rights. Valuation of a lessor's interest comprises the lessor's right to receive rent during the lease and the reversionary interest on lease determination; assessment must reflect the certainty and timing of reversion, accounting for the impact of rent control protections and recognized exceptions, and must take lease provisions on renewal into account when estimating income duration and prospect of reversion.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Valuation of lessor's interest must reflect rent stream and reversionary value adjusted for rent control and renewal rights.
Valuation of a lessor's interest comprises the lessor's right to receive rent during the lease and the reversionary interest on lease determination; assessment must reflect the certainty and timing of reversion, accounting for the impact of rent control protections and recognized exceptions, and must take lease provisions on renewal into account when estimating income duration and prospect of reversion.
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