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County property, and $76,500 for the estate property because the
properties are irregularly shaped parcels containing pineland,
swampland, and riverfront acreage.
c. Scruby
Petitioners' expert, Frank Scruby (Scruby), a Florida
attorney with 40 years of real estate experience, estimated that
the costs of partitioning would be $23,500 for the Putnam County
property transferred in 1980, $23,500 for the Clay County
property transferred in 1983, and $17,500 for the real property
in decedent's estate in 1992.
d. Pitts
Donald M. Pitts (Pitts), a Florida banker for 29 years,
testified that banks will not make loans to the owner of a
fractional interest in real property without the consent of the
other coowner.
3. Respondent's Expert--Elmore
Elmore concluded that the highest and best use of both
properties was for timber growth, agriculture, rural residential,
and waterfront development purposes. He used as comparable sales
the August 1980 sale of the Putnam County property and a 1979
sale by River Farms, Inc., to Seminole Electric Cooperative, Inc.
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