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Subject:  Re: Protected trust Date:  6/14/1998  1:08 PM
Author:  LasVegasFool Number:  3792 of 88046

> It's
> hard to think of land as having NO value, but I know >several cases where that's just what
> happened.

I've heard of cases of land having *NEGATIVE* value. This can happen because of liabilities associated with the land. For example, a toxic spill. (I remember hearing of a case where the bank holds a $1 million mortgage but won't forclose--they don't want the liability.) Also, there have been cases of tax problems. (A 60 minutes thing from years ago: A development outside town that flopped. The law required the improvements be paid for--driving property taxes on the occupied land to astronomical levels.)
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