How would the court determine the value of rental properties for divorce purposes?
Full Question:
Answer:
The bylaws or other documents, such as a buy-sell agreement or shareholder agreement governing the business may provide the governing terms for a buyout in the event of a divorce. Often, divorce attorneys will require an independent, objective value and a credible expert witness. Goodwill may be a significant factor in the valuation of certain businesses.
There are many appraisers available and it is a good practice to shop around and compare qualifications and fees. The are appraisers who specialize in business appraisals. When seeking an appraisal, it is recommended to use individuals who operate under the Uniform Standards of Professional Appraisal Practice (USPAP).