Diminution

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Diminution

Taking away; reduction; lessening; incompleteness.

The term diminution is used in law to signify that a record submitted by an inferior court to a superior court for review is not complete or not fully certified.

Diminution in market value is a rule of damages, within which the proper measure of damages for permanent injury to real property is the reduction of market value for any use to which the property might be appropriated. It is a rule providing for the before-and-after value of stolen or damaged property.

References in periodicals archive ?
The sum of value diminutions attributable to an easement taking area and severance damages may not necessarily reflect total land value diminution to the parent tract.
The generalized impact of an overall project cannot be considered with regard to diminution of a parcel taking.
Damages to the remainder may only be measured by evidence of diminution in market value.
The third conclusion clearly defines an appraiser's obligation to estimate value diminution based solely on evidence from market data (i.e., paired sales), while the fourth conclusion establishes the basis for advocating paired-sales analysis as opposed to precedent actions or right-of-way agents' rules of thumb.
Foley, in "Electric Transmission Lines and the Selling Price of Residential Property"[4] as well as Colwell in "Power Lines and Land Value,"[5] introduce a multiple linear regression (MLR) model for estimating the diminution in value associated with proximity to an electrical transmission line easement.
The only accurate way to allocate a value diminution resulting from the taking area and severance damages is to verify parent tract sales encumbered with comparable easements that are placed within zoning set-back lines (e.g., street or yard set-backs).