J.E. Robert Co. v. Signature Properties, LLC

Summary

The court affirmed a deficiency judgment based on an appraisal valuing the mortgaged property’s leased fee interest. It held that when contract rents are at or near market rents, the leased fee and fee simple interests have equivalent values, so the appraisal and testimony adequately established fair market value. The court also held that the trial court’s valuation finding was not erroneous under the applicable deferential review.