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TAYLOR v. FUSCO MANAGEMENT CO.

No. 77477.

593 So.2d 1045 (1992)

John S. TAYLOR, III, et al., Plaintiffs-Counterclaim-Defendants-Appellants, v. The FUSCO MANAGEMENT COMPANY, etc., Defendant-Counterclaim-Plaintiff-Appellee.

Supreme Court of Florida.

February 20, 1992.

Attorney(s) appearing for the Case

F. Wallace Pope, Jr. and Marion Hale of Johnson, Blakely, Pope, Bokor, Ruppel & Burns, Clearwater, for plaintiffs-counterclaim-defendants-appellants.

Alan C. Sundberg, Tallahassee, and Edward I. Cutler, Tampa, of Carlton, Fields, Ward, Emmanuel, Smith & Cutler, P.A., and Joseph R. Park of Park, Rodnite, Hammond & Ossian, P.A., Clearwater, for defendant-counterclaim-plaintiff-appellee.

HARDING, Justice.

We have for review Taylor v. Fusco Management Co., No. 90-3288 (11th Cir. Feb. 22, 1991), in which the United States Court of Appeals for the Eleventh Circuit certified the following question of law:

WHETHER THE FAIR MARKET VALUE OF LEASED PROPERTY AT THE TIME A LESSEE EXERCISES AN OPTION TO PURCHASE THE PROPERTY IS THE VALUE OF THE FEE SIMPLE ESTATE UNENCUMBERED BY THE LEASE OR THE VALUE OF THE FEE ESTATE ENCUMBERED BY THE LEASE...

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