Richtree Enterprises Case Study

Decent Essays
Due to a design chance, additional land rights are needed across the Richtree Enterprises, LLC. The construction of these improvements requires the following land rights, as shown on the plat(s) attached to the enclosed agreement(s): DEDICATION FOR PUBLIC STREET PURPOSES OF 257 SQ. FT.

Pursuant to Virginia Code § 25.1-417, the value of the property (land rights) being acquired can be based on assessment records or other objective evidence if this value is less than $10,000. Therefore, based on a determination of the value of the land rights needed utilizing assessment records and other objective evidence as summarized on the enclosed document, I hereby make the following bona fide offer: SIX THOUSAND FOUR HUNDRED AND SEVENTY DOLLARS

Related Documents

  • Improved Essays

    (a) Material facts of the case Hacon & Sons Pty Ltd is a family grazing business and a trustee for the Hacon Family Trust. After Mr Walter Hacon and his wife passed away, the remaining shareholders of the Hacon & Sons Pty Ltd are their three sons. The properties that trustee’s grazing business were conducted on are owned by corporate subsidiaries of the trustee, and three sons. The allocation of the operation profit of the company is not conducted by dividend but invest to the distributed fund by the trustee in “off-farm assets”.…

    • 954 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    Bravo Consulting Inc has made a detailed financial analysis in order to evaluate Cango’s performance and current financial position compared to Amazon, one of Cango’s biggest competitors. Bravo consulting decided to use the Ratio Analysis in order to analyze the process of the financial statements by computing ratios, and in this way inform the possible changes in the financial condition of Cango.. This Ratio Analysis will allow Bravo Consulting Inc to evaluate the key performance indicators like liquidity, solvency, and profitability of Cango. Such Financial Analysis will disclose Cango’s ability to earn income, identify its strength and weakness’s, and will also evaluate the short and longer term prospects of Cango.…

    • 329 Words
    • 2 Pages
    Improved Essays
  • Decent Essays

    Business ventures are an exciting endeavor that reap many benefits, but require precise planning and organization in order to keep it successful. A successful business is the ultimate objective; however, hard to acquire due to the complexities involved. Aside from establishing a successful business venture, legal and accounting aspects are an integral part of its foundation. Business ventures evolve, requiring an in depth plan and explanations of accounting and tax implications that shift with its evolution. Flatirons, Inc. is an evolving business venture that necessitates an in depth plan to assist in its evolution by addressing the new shareholders’ structure, accounting and tax implications and new corporate procedures.…

    • 108 Words
    • 1 Pages
    Decent Essays
  • Decent Essays

    Good Afternoon Dena, After discussing with Bruce the City’s concerns with the repayment of the Deferred Developer’s Fee and keeping with the previous repayment terms of the agreement Bruce is asking that the City consider and grant his request for the the following cash payment (4th paragraph) be included in the agreement amendment so that he can afford the administrative costs for the significant amount of staffing time and resources invested to complete the total renovation and reclamation of the subject property and create new affordable housing units within the City. He stated the current agreement defers his deferred cash payment for 55 years, while his request will allow for his deferred cash payment to be received as soon as there…

    • 336 Words
    • 2 Pages
    Decent Essays
  • Improved Essays

    Houses LLC Case Summary

    • 872 Words
    • 4 Pages

    This market-based measurement does not assume a forced liquidation or distressed sale and considers the involved buyers and sellers as independent and knowledgeable actors who act in their best economic interest. There are several techniques of measuring determining the fair value: The market approach compares the prices of identical or comparable sales generated by real market transactions, the income approach discounts future cash flows to the current present value, and the asset approach measures the current amount required to replace the value of existing…

    • 872 Words
    • 4 Pages
    Improved Essays
  • Decent Essays

    Relevant Facts Mr. Smith bought a gas station which had no known groundwater or soil contamination issues at the time of purchase. Sometime after operated the gas station an issue of groundwater and soil contamination was determined to potentially exist. In response to the potential groundwater and soil contamination issues Mr. Smith elected to form a new corporation (XYZ) and performed a 351 transfer of the gas station and accompanying liabilities to the new corporation. It is assumed that the basis of the gas station exceeds the liabilities transferred. Tax Issue…

    • 452 Words
    • 2 Pages
    Decent Essays
  • Improved Essays

    In addition, since the new property was not discounted, the basis of the property and the depreciation incurred each year would be inflated. Ultimately, the courts concluded that this could not be separated into two separate sales and was a like-kind exchange, subject to Section 1031 (American Federal Tax Reports ,…

    • 906 Words
    • 4 Pages
    Improved Essays
  • Great Essays

    The adjacent area of the site location is surrounded by vacant hillside areas extending to the east. To the north, south, and west sides, there are already existing single-family residential neighbourhoods. Approximately 20% of the…

    • 644 Words
    • 3 Pages
    Great Essays
  • Superior Essays

    Case Description The Merrifield Commercial Realization Area (CRA) projected started on April 2009, which it is known as The Mosaic District as well. Because this project, the first Community Development Authority (CDA) was created, and it made sure that the CRA’s principles provided a coordinated approach to address the needs and opportunities of a changing development environment, while ensuring that public dollars are contributed only when essential to realize revitalization. Also, the CDA was created to help financially the public infrastructures that were development in Fairfax, and the Merrifield Commercial Realization Area was one of them. With 32 acres and a value of $65,650,000 Mosaic District Community Development Authority is…

    • 1307 Words
    • 6 Pages
    Superior Essays
  • Decent Essays

    Duane Case Summary

    • 716 Words
    • 3 Pages

    IAS 16-30 and 16-31 lay out two methods to record the value of property. The first method is the cost model; this states that the property is carried at cost less any accumulated depreciation or impairment losses. The second method is the revaluation model. The revaluation model can be used to carry the building at fair value, if it can be measured reliably, less any accumulated depreciation and impairment losses. If the company chooses the revaluation model, IAS 16-39 states that the $10 million increase in value would be recognized through comprehensive income under the heading “Revaluation Surplus”.…

    • 716 Words
    • 3 Pages
    Decent Essays
  • Decent Essays

    Martha Carr Case

    • 217 Words
    • 1 Pages

    According to the textbook in chapter 13 a court will examine the adequacy of consideration when “fraud, undue influence, duress, or the lack of a bargained-for exchange may be involved”. So basically it is there to make sure the bargain is fair. In this case the circumstances appear because we know that Martha Carr was diagnosed with schizophrenia and depression and had to go to the hospital numerous times. Since she deals with schizophrenia and depression we have to consider maybe those disorders had something to do with her agreement to sell the land for a low price of $54,000 (agricultural value) when in reality the real estate appraiser found that the real market value was $162,000 at the time of the contract. We don’t know for sure if Betty was intentionally trying to deceive Carr, but the contract was a steal for the Campbells if it went through.…

    • 217 Words
    • 1 Pages
    Decent Essays
  • Improved Essays

    Center Parcs

    • 847 Words
    • 4 Pages

    The Center Parcs/Develop Expansion Plan for the State of Washington Introduction -Center Parcs Development Division (CPDD) - The Center Parcs Development Division is a UK based company, founded in the Netherlands in 1968. We have over 26 resorts globally and see the eastern part of the state of Washington as the best place to create our first resort in the U.S. -Ex-ante Analysis- In the state of Washington, the CPDD owns land already approved for a resort and residential areas, located adjacent to the proposed preserve. The size of the proposed preserve is 50,000 hectares, with a local county population of 100,000 residents.…

    • 847 Words
    • 4 Pages
    Improved Essays
  • Decent Essays

    Hi Ms. Bruner, I am looking to build a future education at Bauer College of Business, and you are someone whose guidance I would value. If you area willing to, I would appreciate if you could answer some or all of my questions and confusions below pertaining to my chances of being accepted into the college. I would like to start off with a bit of my background. As a first generation college student, I had struggled with balancing school and work while attending the University of Texas at Austin. A major factor that affected me were that my asian immigrant parents needed my help to keep their small business running to pay the bills.…

    • 332 Words
    • 2 Pages
    Decent Essays
  • Decent Essays

    Stefanik, Thompson, Khalabari, Vega December 12, 2016 House Bill No. __________ Patron–– § 1. Notwithstanding any other provision of law, no state or local government department, agency, or instrumentality having jurisdiction over criminal law enforcement or regulatory violations, including but not limited to the Department of State Police and any school division, and no department of law enforcement as defined in § 15.2-836 of the Code of Virginia of any county, city, or town shall purchase or deploy body-worn cameras before the department, agency or instrumentality has adopted and made available for public comment and review a policy for the deployment of such cameras that includes provisions implementing the following requirements: The…

    • 636 Words
    • 3 Pages
    Decent Essays
  • Decent Essays

    Defendants: A Case Study

    • 140 Words
    • 1 Pages

    This is a wind and hail damage dispute arising from a storm that took place on August 6, 2013. Loren and Helen Borg herein referred to as (“Plaintiffs”) bring this claim of breach of contract against Defendant Grinnell Mutual Reinsurance Company and Crow River Mutual Insurance Company, herein collectively known as (“Defendants”). Plaintiffs anticipate that Defendants will attempt present evidence regarding damages at trial but it has failed to produce formally or otherwise any estimate or information regarding damages that exceed a total loss. Plaintiffs also request that the Court exercise its digression and permit the property to be viewed and permit evidence regarding replacement cost value. Plaintiffs also request that the Court exclude…

    • 140 Words
    • 1 Pages
    Decent Essays