The district court accepted Almota's theory of valuation, but was reversed by the Court of Appeals for the Ninth Circuit. The Supreme Court reinstated the district court's judgment. Held: Just compensation for a leasehold bearing improvements owned by the lessee is measured by what a willing buyer would pay to a willing seller for the leasehold, taking into account the possibility of renewal. Almota Farmers Elevator & Warehouse Co. v. United States, 409 U.S. 470 (1973).
Mark W. Pennak,
Constitutional Law—Eminent Domain—Just Compensation for a Lessee's Renewal Expectation—Almota Farmers Elevator & Warehouse Co. v. United States, 409 U.S. 470 (1973),
50 Wash. L. Rev.
Available at: https://digitalcommons.law.uw.edu/wlr/vol50/iss1/10