| N.Y. Sur. Ct. | Mar 15, 1916
—The executors contend that the appraiser erred in placing a valuation of $16,500 on a certain bond and mortgage owned by the decedent at the time of her death. The testimony taken -before the appraiser shows that the executors foreclosed the mortgage, sold the mortgaged premises at public auction and bid it in for the benefit of the estate at the sum of $5,000. The appraiser’s1 report, .however, contains no com'petent evidence of the value of the mortgage at the date of decedent’s death. The state comptroller submitted an affidavit showing the value of the mortgaged premises; but while this is an element to be taken into consideration in ascertaining the value of the mortgage, it is not in itself sufficient proof of the value of the mortgage. That value may be affected by the financial responsibility -of the mortgagor, the length of time the mortgage has to, run, the character of the mortgaged premises and their location. While many of the questions propounded by the executors were incompetent, some of those which the •appraiser disallowed were clearly competent and should have been allowed. Upon a hearing held before a transfer tax appraiser for the purpose of ascertaining the value of a decedent’s •estate, he should allow any question which tends to elicit information that may .assist him in determining the value of the property. A witness -should be allowed to answer, even if the
Order reversed.