Morley v. Jackson Redevelopment Authority, et al.
| Docket Number: | 2002-CA-01355-SCT | |
| Supreme Court: | Opinion Link Opinion Date: 06-10-2004 Opinion Author: Graves, J. Holding: Affirmed |
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| Additional Case Information: |
Topic: Eminent domain - Interest earned on principal Judge(s) Concurring: Smith, C.J., Waller, P.J., Easley, Carlson, Dickinson and Randolph, JJ. Non Participating Judge(s): Diaz, J. Dissenting Author : Cobb, P.J. Concur in Part, Dissent in Part 1: Cobb, P.J., Concurs in Part and Dissents in Part Without Separate Written Opinion Procedural History: Jury Trial Nature of the Case: CIVIL - EMINENT DOMAIN |
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| Trial Court: |
Date of Trial Judgment: 08-01-2002 Appealed from: Hinds County Special Court of Eminent Domain Judge: William R. Barnett Disposition: After the trial court found that Morley no longer had an interest in the King Edward Hotel and Garage, he was dismissed from the eminent domain proceedings concerning the property. Case Number: 34,518 |
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| Party Name: | Attorney Name: | |||
| Appellant: | E. Dean Morley |
PRO SE |
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| Appellee: | Jackson Redevelopment Authority and Atcco Realty, Inc. | W. WHITAKER RAYNER ZACHARY TAYLOR, III RICHARD MONTAGUE |
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| Topic: | Eminent domain - Interest earned on principal |
| Summary of the Facts: | In 1981, E. Dean Morley and Margaret M. Laurence purchased the King Edward Hotel for $450,000. When the City of Jackson, through its urban renewal agency, the Jackson Redevelopment Authority, decided to purchase the property, Morley and Laurence refused their offers. In 1989, the JRA filed suit to condemn the property. The jury in the first trial determined $500,000 was appropriate compensation for the property. On appeal, the Supreme Court affirmed in part and reversed in part and remanded the cases for a determination as to whether the JRA had a “primarily public use” for the land that would support a taking. After the remand, Laurence transferred her interest to the Margaret M. Laurence Revocable Trust; she later passed away, leaving trusteeship of the Trust in the hands of Morley, her son James Laurence, and Jon Muth. Morley eventually declared bankruptcy, and Morley’s interest in the King Edward was purchased by Atcco Realty, Inc., at a sheriff’s sale. The Trust and Atcco subsequently entered into a Final Agreed Order of Dismissal Pursuant to Settlement with the JRA. Morley was dismissed from the eminent domain proceedings, and he appeals. |
| Summary of Opinion Analysis: | The $500,000 awarded by the jury was placed on deposit with the Circuit Clerk for safekeeping and to earn interest. Morley argues that he is entitled to the interest that accrued while the property was still owned by him. The general rule is that interest follows principal. Since Morley has lost his right to the principal, he has no right to any interest that has accrued upon it. |
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