Full question:
If there are rental properties involved in a divorce; and the properties are the spouse's company, which is under a corporation. How would they determine the 50% for the other spouse. Would they use market value and take into consideration he receives rental income from these properties? Is there a simple factor?
- Category: Divorce
- Subcategory: Property Settlements
- Date:
- State: Georgia
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).
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.
