A story on a website called PropertyLine.com said that when someone buys an estate in a “legacy” the value is the same as when it was sold.
The website’s founder, David Deitch, is the former executive director of the U.S. Agency for International Development, which has been in charge of supporting foreign aid projects in the U,S.
and other countries.
He told The Associated Press he has no knowledge of the property definition, and that it is a misnomer.
“If the property was sold for $100 million and it sold for about $150 million, you’d have to say the value was the same,” he said.
“You don’t buy a house for $1 million.
You’re buying it for $150,000, $150M.”
In addition to the property value, Deitch said, the estate is also subject to the rules governing how much land the owner can sell to pay for improvements.
He said he believes the definition should be changed because “there’s no real reason” for the current system, where “the rich and powerful are getting more control.”
A spokeswoman for the U