Duplex with minority holding

[larryhaskell]

I know its the day before a holiday but thought I would ask anyway because there is no hurry. Have a request to appraise a duplex for an estate. No problem there. The ownership of the duplex is as follows: 1/3 to owner A, 1/3 to owner B and 1/2 of the remaining 1/3 to owner C (the deceased) and 1/2 of the remaining 1/3 to owner D ( the son of the deceased person. To try and simlify, they want the value of the deceased persons 1/2 interest of the 1/3 ownership of the duplex. They recognize that we value the property as a whole first and then go from there. We probably lose money on these but they are more interesting than some little tract home. Any thoughts will be appreciated and have a happy and safe 4th of July. It will be our first with our beautiful 10 month old grandaughter so I know it will be a blast for us. Those of you lucky enough to have grandchildren know what a blessing they are. Not that our own children weren't blessings but grandchildren are our reward for raising our kids. Look forward to hearing from anyone with any ideas on this appraisal even those not old enough to have grandkids.

 

[Anonymous]

If your client wants to know what X percent of the market value of the subject is the assignment is easy, just divide the market value by the percentage requested.

 

[Richard Carlsen]

I would think the way to do this would be to give them a value for the property and let them or their attorney figure out what the ownership documents say and do the math.

On one like this, you are bound to be given bad or incomplete info and the results will have to be corrected and that takes time and time is money as they say. Let the owners do the math from your value of the whole.

 

[Larry Lyke]

Walt gave the right answer.

Let the probate attorney figure out the residuals. That's what he's being paid for and he is privy to all the information and will be filling out and filing the estate papers anyways.

Have fun.