Cochrane v. Burton

Citations

• 105 Cal. 353
• 38 P. 952
• 1895 Cal. LEXIS 664

Syllabus

<p>Estates op Deceased Persons—Sale op Realty—Confirmation—Market Value—Effect op Litigation.—If the real estate of a deceased person has been sold by order of the court upon due notice at public auction, and the sale was fairly made and legally conducted, and the sum bid was not disproportionate to the value of the property at the time of the sale, and no sum exceeding the bid could be obtained in case a new sale were had, and no offer of any kind in excess of the bid has been made to the court, the confirmation of the sale cannot be properly objected to by the heirs upon the ground that they had commenced litigation concerning the property, and had notified purchasers at the sale that they were purchasing a lawsuit, and that if it were not for the lawsuit the market value of the property would have been a sum largely in excess of the amount bid.</p> <p>Id.—Findings—Value op Property—Contingency.—If the court finds that the sum bid was not disproportionate to the value of the property, and was its full market value, and that no larger sum could be obtained at a new sale, and that no offer was made for an increased bid, a finding that the market value would have been a much larger sum if it had not been for the doubt and uncertainty caused by the litigation is in no sense a finding that the market value was, at the time of the sale, a much larger sum, and is no finding of value at all.</p> <p>Id.—Reasons fob Depreciation in Market Value — Judgment of Court—Present Value.—The reasons for the depreciation in the market value of property, or for the present market value, are immaterial, and cannot control the court in its judgment as to whether or not a sale should be made, but the present value of the land is the important and controlling element in the case.</p>