Court Opinion

ID: 9858095
Source: CourtListenerOpinion
Date Created: 2023-09-24 16:14:36.010967+00
Date Added: 2024-06-11T10:02:26.750835
License: Public Domain

LEVINE, Justice,
concurring specially.
We have held that fair value is not synonymous with fair market value in determining value for purposes of a deficiency judgment. An instruction on the subject should center not only on that negative but also on those factors making up the “intrinsic” value of the real property in question. Such factors may include the property's family history, past use and other elements which provide the emotional component to the fair value definition, as well as the property’s income-producing history, future income-producing capacity, the amount of past investment of labor and funds, along with the factors we referred to in Bergquist. The breadth of the instruction will necessarily depend upon the evidence submitted. It is not only the evidence that is to be wide-ranging, but also the instruction on the meaning of fair value.