Compensation for Real Estate Sample Clauses

Compensation for Real Estate. In its ruling on 20th May 2019 (BGE 145 III 225 et seq.), the Federal Supreme Court addressed the question, for the first time, of whether compensation is due if a property’s market value is reduced. In this specific case, the damage caused by flooding had to be assessed, whereupon the owners of the affected properties asserted a claim for damages against the general contractor. The Federal Supreme Court determined that a reduction in market value due to this damage can, in principle, be implemented in all cases where the market reacts to a damaging event with a price reduction that is neither technically nor functionally justified. The compensation is not to be assessed in a general way; rather, according to the nature of the case. The prevailing view is that a property is not considered to be of inferior quality in the long term as a result of a damaging event. From the owner’s point of view, there is no permanent damage, but at best only temporary damage that becomes meaningless in the property valuation after a maximum of 15 years. The temporary nature of a loss in value due to a damaging event is best accounted for by limiting the liability to a proven asset reduction. A concrete loss can arise primarily from the sale of the property (lower proceeds). Furthermore, such a reduction in assets is also conceivable in the case of expropriation or forced sale, as here too the valuation of the property is decisive. In the case at hand, however, the plaintiffs were not able to prove permanent damage to net assets, which is why the Federal Supreme Court confirmed the dismissal of the claim in the lower court. THE IMPORTANCE OF A CHILD’S WILL IN RULINGS ON VISITING RIGHTS