Tag: Atlanta

Does a Foreclosure Sale Determine Fair Market Value in Georgia?

The answer is a resounding yes according to an interesting case that came out recently. SeeDekalb County Board Of Tax Assessors v. Astor Atl, LLC, A19A0516 (April 1, 2019). In that case, the Georgia Court of Appeals rejected DeKalb County’s argument that it could assess property taxes in an amount higher than the price paid for the same property at a foreclosure sale.

Dekalb County argued that a foreclosure sale does not qualify under as an arm’s length, bona fide sale, and that it had appraised the property in conformity with its rules using the sales comparison approach.

In deciding the case, the Georgia Court of Appeals referenced O.C.G.A. § 48-5-2(3), which provides a limitation on the maximum allowable fair market value. Under that statute, “the transaction amount of the most recent arm’s length, bona fide sale in any year shall be the maximum allowable fair market value for the next taxable year.”

The decision concluded by holding that foreclosure sales can be arm’s length, bona fide sales. Moreover, the fact that the sale may not bring in the true market value of the property does not require a different rule; the fact that the sale results in a financial loss is not relevant.

The court noted that foreclosure sales are distinct from tax sales. While foreclosures are considered arm’s length, bona fide sales, tax sales are considered “forced sales” because owner retains a right of redemption, so the tax deed purchaser does not obtain proper title until the redemption period has run.

While this isn’t super helpful in the current market with surging property values, it would definitely help investors should the real estate market turn south down the road. Something to keep in mind.

Please call us at 404-382-9994 for real estate related questions.

Attorney’s Fees in Georgia: Part One

Part 1: Contractual Attorney’s Fees

Virtually without fail, one of the first things our clients ask is whether they’ll be able to recover attorney’s fees from the other side. This is a fair question because it seems wrong to have pay an attorney when the other side has acted improperly or has caused the dispute. While not necessarily intuitive, the default rule, with exceptions, is that each side is responsible for their own attorney’s fees. We’re going to discuss some of the statutes and cases contrary to the default rule–these laws allow the winner of a lawsuit to recover reasonable attorney’s fees.

The most clear cut situation in which the winning party can recover attorney’s fees is when parties have signed a contract that provides for the recovery of  attorney’s fees. For example, a typical provision in a contract might say that “the prevailing party is entitled to attorney’s fees incurred to enforce or collect monies due under the contract.” In these situations, a trial court doesn’t have the authority to alter such an arrangement unless it is prohibited by statute, and the winning party is entitled to reasonable attorney’s fees as a matter of law.

Contractual attorney’s fees were discussed by the Georgia Court of Appeals in Summit At Scarborough Homeowners Association, Inc. v. Williams, A17A1289 (decided November, 16, 2017). In that case, the trial court’s decision to deny a homeowner’s association attorney’s fees related to unpaid association dues was reversed because the association documents, which are considered a contract, provided for the collection of attorney’s fees. Thus, in cases where a contract provides for attorney’s fees, the trial court must award attorney’s fees based upon evidence of the reasonable value of the professional services provided by the attorney.

In the next installment, we’ll discuss what happens when there’s no contractual provision for attorney’s fees, but the opposing party has acted in bad faith.

car wreck

Automobile Injuries in Georgia

Throughout Atlanta, hundreds of car accidents occur every day. Our law office, Gomez and Golomb, has helped clients recover damages for automobile injuries caused by collisions since 1994.

Gomez & Golomb Will Maximize Your Automobile Injuries

Many lawyers try to handle automobile injury cases, but, unfortunately, many don’t handle these cases regularly, or only to get minimal settlements, or have paralegals or assistants do all the work. You see these lawyers smiling on billboards throughout town. Our office is different: we work super hard to maximize the recovery in each automobile injury case, whether $5,000 or $five million. Every case we take is equally important to us. And every case is handled by an attorney from start to finish. The insurance companies only offer top dollar for automobile injuries when they know the other side is competent and prepared to fight.

Automobile Injuries are a Big Deal

Being involved in a collision is a life-changing, traumatic experience. Car accidents often occur through no fault of your own. When a four, five, or six thousand pound vehicle hits your vehicle, even a low-impact collision will cause injuries. These include rear-end wrecks, failure to yield, and intersection wrecks. Collisions cause severe and sometimes permanent injuries.

Automobile Injuries Involve Complicated Legal Issues

Car wrecks in Atlanta involve several issues, including insurance laws, overlapping jurisdiction, and other complex legal issues. Correctly interpreting the law and advocating your position is vital to recovering the total amount of damages caused by the automobile accident. Damages for car accidents include property loss, medical costs, lost wages, and past and future pain and suffering. Insurance companies are for-profit businesses. Their goal, and the way they make profit, is to settle your car collision case for as little as possible. If you hire Gomez & Golomb, you will level the playing field and maximize your settlement.

Call Us!

If an automobile collision causes injuries to you, call us at 404-382-9994 to speak to a lawyer about your case.