Which of the following scenarios is a sale under threat or imminence of condemna

Question

Which of the following scenarios is a sale under threat or imminence of condemnation?

Greta sold her land in the Everglades the week before the Corps of Engineers announced a new levee was going to be built through part of the property.

Bill heard on the evening news that the state is going to take property to construct another exchange on the interstate. His warehouse is located in the middle of the new exchange. After he contacted a representative of the Department of Transportation, who confirmed the story, he sold the property to the neighboring warehouse owner.

Don received a notice from the health department that unless he connects his rental property to the city sewer system, the property will be condemned. He sold the property "as is" rather than paying an estimated $30,000 to connect to the sewer system.

Alana sold her main home after she heard from her neighbor about an airport expansion project that was going to take their properties.

Which of the following scenarios is a sale under threat or imminence of condemnation?

Explanation / Answer

Solution: Bill heard on the evening news that the state is going to take property to construct another exchange on the interstate. His warehouse is located in the middle of the new exchange. After he contacted a representative of the Department of Transportation, who confirmed the story, he sold the property to the neighboring warehouse owner.

Explanation: In this scenario Bills learns through a reliable source that a state has decided to acquire the Bill's property; and also confirmed from Department of Transportation that the condemnation will actually occur, thus sells the the property to the neighboring warehouse owner and therefore categorised as a sale under threat or imminence of condemnation

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