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Level42:

--- Quote from: protokatie on December 05, 2008, 12:42:35 am ---
--- Quote from: SavannahLion on December 04, 2008, 11:41:43 pm ---WTF? Warehouse for $1? Does that even happen?

--- End quote ---

Yep. In the US, any transfer of titular property (outside of inheritance) requires a monetary exchange. A property that is not profitable, but would be costly if abandoned by the land owner, may be sold for a small sum of money. (The new owner has to take care of any industrial waste, effluage, etc).

--- End quote ---
Happens here all the time. F.I. if a train museum "buys" a locomotive from the train operator company.

That was a good laugh. I have to say his box handling skills are at least equal to that of UPS :D

ChadTower:

IIRC, and I may not, in some states the taxes on that transaction are not based on the sale price.  They are based on the assessed value of the property.  So you can't really buy a warehouse for $1 unless the place is condemned.

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