https://www.taxtmi.com/caselaws?id=199082 A purported lease that could not operate as a valid long-term grant was treated, after acceptance of rent, as creating a landlord-tenant relationship under general law. The renewal clause was unenforceable for apportionment because it depended on future agreement and did not fix definitive terms, so the apportionment proceeded without giving that clause effect. In assessing compensation for acquired land, market value was to be judged by what a willing purchaser would pay, with reference to comparable sales, locality development, and deductions for roads, drains, and development costs. On that approach, the compensation assessment was not shown to be unreasonable. en-us Wed, 03 May 1972 00:00:00 +0530 Mon, 19 Feb 2018 17:51:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=199082 A purported lease that could not operate as a valid long-term grant was treated, after acceptance of rent, as creating a landlord-tenant relationship under general law. The renewal clause was unenforceable for apportionment because it depended on future agreement and did not fix definitive terms, so the apportionment proceeded without giving that clause effect. In assessing compensation for acquired land, market value was to be judged by what a willing purchaser would pay, with reference to comparable sales, locality development, and deductions for roads, drains, and development costs. On that approach, the compensation assessment was not shown to be unreasonable. Case-Laws Indian Laws Wed, 03 May 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=199082