Real Estate | 04 July 2011
A hypothetical transaction lies at the heart of most valuation exercises, whether a capital valuation or a rental valuation. The parties must address a negotiation on assumed facts, based on ground rules set out in the lease or other contract and in case law.
An issue that presents itself is whether documents and information held by one party but not the other are relevant and ought to be disclosed to that other. The question is then turned round and the party against whom disclosure is sought asks: ‘How can these documents or information be relevant if they were not known to you?’ Battle is joined. [Continue Reading]