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If a property was damaged and repair failed to restore it to its original market value then said property has suffered diminished value. Unlike depreciation, which is an anticipated and predictable loss in value over time, ‘Inherent Diminished Value’ is a loss in value due to a specific, sudden and unexpected negative occurrence. Diminished ...
Economic loss is a term of art [1] which refers to financial loss and damage suffered by a person which is seen only on a balance sheet and not as physical injury to person or property. There is a fundamental distinction between pure economic loss and consequential economic loss , as pure economic loss occurs independent of any physical damage ...
Then there was the tree growing through the house, the hole in the attic and the roof with a dead valley. Barker put the $15,000 contractor fees for those fixes on her credit card — and has yet ...
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Special damages compensate the claimant for the quantifiable monetary losses he has suffered. [13] For example, extra costs, repair or replacement of damaged property, lost earnings (both historically and in the future), loss of irreplaceable items, additional domestic costs, and so on. [14] They are seen in both personal and commercial actions.
Sixmarie Rodriguez, whose family has lived there since 2020, said the house will take so long to repair that her family needs a new place to live. The GoFundMe seeks to raise $50,000. As of 8 a.m ...
Loss mitigation [1] is used to describe a third party helping a homeowner, a division within a bank that mitigates the loss of the bank, or a firm that handles the process of negotiation between a homeowner and the homeowner's lender. Loss mitigation works to negotiate mortgage terms for the homeowner that will prevent foreclosure.
If a grueling run of financial bad luck has sucked the fun out of everything for as long as you can remember, now is a good time to declare this moment rock bottom and begin to right the ship. No...
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