I’m reposting this because there has been discussion of a different buy-out number. I’ve added the Majority Report so you can see which number is correct.
Join me, please, in a thought experiment. Let’s compare the withdrawal of Sandown from the Timberlane Regional School District to the divorce of a married couple.
Since getting married, Mr. Timberlane and Ms. Sandown have amassed a modest real estate empire. They have jointly and fully acquired by equal contribution
- a family home
- a summer cottage
- a rental property
- a house for Mr. Timberlane’s relatives
[For the purposes of this argument, ignore that tax law and domestic property law treats these properties differently.]
Ms. Sandown now wants a divorce. She tells Mr. Timberlane that she will leave the marriage with the family home and he can have the rest of the properties. Ms. Sandown, feeling guilty for breaking up the relationship, considers this more than generous since she owns half of all four properties and is just asking for the family house.
Mr. Timberlane, on the other hand, insists that…
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