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For these reasons, Lord Steyn rejected the appellant's counsel's argument that the law as expounded in R v Gomez and R v Lawrence must be qualified to say that there can be no appropriation unless the other party (the owner) retains some proprietary interest, or the right to resume or recover some proprietary interest, in the property. He also ...
Tax collection was a public purpose, the justices found, adding other case law would bar purely private takings. “If a lienholder or anyone else therefore took surplus equity in property for a ...
For real property exchanges under Section 1031, any property that is considered "real property" under the law of the state where the property is located will be considered "like-kind" so long as both the old and the new property are held by the owner for investment, or for active use in a trade or business, or for the production of income.
The Court also rejected the premise that there is a bright line as to what constitutes a gift for taxation purposes. Id at 287. Instead, when determining whether something is a gift for taxation purposes, the critical consideration is the transferor's intention. Duberstein at 285-286 (citing Bogardus v. Commissioner, 302 U.S. 34 (1937)). This ...
The ruling ended a long tax dispute between Gilbert Hyatt and California regarding alleged tax fraud by Hyatt. Hyatt had been challenging the tax fraud penalties that the California Franchise Tax Board (FTB) had ordered him to pay since 1993, both in court and through administrative proceedings. Because of the Supreme Court ruling, Hyatt was ...
Under this view, government transgresses property rights by enforcing compulsory tax collection, regardless of what the amount may be. [4] [5] Some opponents of taxation, like Michael Huemer, argue that rightful ownership of property should be based on what he calls "natural property rights", not those determined by the law of the state. [6]
Jul. 30—A former executive officer of the Clatsop Association of Realtors has been indicted for identity theft, forgery and aggravated theft. Deborah Lee Morrow, 61, allegedly used the ...
Adverse possession in common law, and the related civil law concept of usucaption (also acquisitive prescription or prescriptive acquisition), are legal mechanisms under which a person who does not have legal title to a piece of property, usually real property, may acquire legal ownership based on continuous possession or occupation without the permission of its legal owner.