State Case Law: Rulings Turn on Appraisal Requirement, Value of Intangible Contribution
Appeals Courts in Iowa and Mississippi Settle Divorce Disputes
The Mississippi Court of Appeals reverses a trial courtâ€™s ruling inÂ Marter v. MarterÂ because of a valuation without sufficient evidence, and the Iowa Court of Appeals affirms the value of a wifeâ€™s intangible contributions to a business inÂ re Marriage of Kinser.Â
Marter v. Marter
August 7, 2012
Court of Appeals of Mississippi
A husband and wife consented to a divorce. The husband argued that the chancery court erred in its valuation of certain real property and his workshop. The chancery court’s valuation of the property was not supported by substantial evidence. There was no explanation in the chancery court’s order as to how it arrived at its valuation for the real property. The chancery court did not account for the husband’s workshop or its value in the divorce decree. It found that the husband’s workshop passed with the property awarded to the wife, but the chancery court did not assign any value to it.Â The trial courtâ€™s ruling was reversed and remanded.
In re Marriage of Kinser
August 8, 2012
Court of Appeals of Iowa
In this divorce action, the district court’s division of the estate was affirmed as modified because while the wife’s tangible contributions may not have directly increased the value of the husband’s businesses, her financial and other intangible contributions to the 13-year marriage itself allowed the businesses the opportunity to grow.Â The trial courtâ€™s ruling was affirmed.
Peter Agrapides is an appraiser at Houlihan Valuation Advisors.Â Reach him at firstname.lastname@example.org.