holdout

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Holdout

A homeowner (often the only one) who refuses to sell to make way for a new development. For example, if a company attempts to buy all the houses in a neighborhood to make way for a shopping center, a holdout is the one who does not sell. Holdouts can force the buyer to abandon or redesign the project.

holdout

A property owner who refuses to sell to a developer who is purchasing a number of separate parcels in order to put them together—an assemblage—for development. Sometimes the practice results in an offer vastly in excess of market price,because the holdout controls the success of the entire project.Other times, developers go back to the drawing board and redesign the project, leaving the holdout with no offer at all and what could turn into very unpleasant living conditions due to being surrounded by parking lots and 24-hour high-intensity lighting.Developers often avoid the problem by purchasing options rather than properties,so that if a critical property owner refuses to sell,the developer can abandon the entire project with a minimal expenditure.

References in periodicals archive ?
Another group of 30 holdout families were listed in a document issued end of last year.
On counts one and three, the two holdouts were "not moving, no matter what" the juror said.
For starters, while it is not possible to measure precisely the economic and social costs of dealing with the holdouts, it is safe to say that they were substantial.
Even though after the funds won their case in a New York court in 2012, the government declined to pay, mentioning the so-called holdout bondholders must have joined the majority of the nations creditors in a debt restructuring.
One of the other holdouts, Sean Anderson, said on the broadcast at 9:20 p.
But with most counties already issuing same-sex marriage licenses, Maxey, the first openly gay legislator in Texas, said there wasn't much reason to file lawsuits in every holdout county - other than Irion County - "to make a point" because of the small population in those counties.
Argentina takes a counter position: Demands for paying the holdouts is similar to extortion, and Argentina has made a full "good faith" payment for the current bondholders, those who had agreed to earlier restructurings in 2005 and 2010.
Kicillof reiterated the country's position - that it cannot pay the holdouts without triggering a clause that could leave it open to claims worth hundreds of billions of dollars from bondholders who accepted the restructured debt agreements following the 2002 crisis.
South American leaders have rallied behind Argentine President Cristina Fernandez, who is locked in a legal battle with holdout investors that could trigger a debt default this week, Reuters reports.
Griesa's order says Argentina cannot pay exchange bondholders without also paying the holdouts at the same time under the pari passu, or equal treatment, clause in the original bond contract.
The judge made the comment while refusing the banking firm's request for a declaration as to whether it would be affected by his order that barred payments to bondholders who accepted Argentina's exchanges in 2005 and 2010 unless the holdouts were paid.
be compelled to pay litigant holdouts their full $1.