Opinion ID: 886701
Heading Depth: 1
Heading Rank: 4

Heading: Whether the District Court erred in determining the property valuation at the time of marriage.

Text: ¶ 13 Steve argues the District Court abused its discretion in determining the date of marriage valuation of his real property and improvements associated with his business. He claims the court erred when it relied on Sherri's expert property appraiser, Gene Lard, who incorrectly used the market approach in estimating the property's value at $100,000 at the time of marriage. Steve alleges no genuine comparable sales existed at the time to accurately gauge his property's value and contends the cost approach used by his expert, Tom Donovan, was more comprehensive in evaluating the property at $145,000 at the time of the marriage. Finally, he maintains Sherri made no contributions to the purchase price and her assistance with improvements to the property was compensated at that time. ¶ 14 Sherri counters the District Court correctly considered her expert's property valuation of $100,000 at the time of marriage. She maintains her expert properly used the market method of evaluating Steve's property holdings, reviewing some 400 sales in the time period in an attempt to find comparable sales and reach a fair market value. Further, Sherri argues Steve's expert's testimony was obtained in the form of a perpetuation deposition during which Sherri's counsel was unable to attend and participate in due to illness. Moreover, Sherri contends Steve's expert's testimony was based exclusively on Steve's estimates regarding improvements and labor on the property. Sherri maintains these improvements occurred after the date of marriage. ¶ 15 The district court has broad discretion in determining the value of property in dissolution. Its valuation can be premised on expert testimony, lay testimony, documentary evidence, or any combination thereof. The court is free to adopt any reasonable valuation of marital property which is supported by the record as long as it is reasonable in light of the evidence submitted. In re Marriage of Meeks (1995), 276 Mont. 237, 242-43, 915 P.2d 831, 834-35. ¶ 16 Based on our review of the record, we conclude the District Court did not abuse its discretion in determining the property value at the time of marriage. The District Court received testimony at trial concerning the appreciation in the value of the property. Between the two experts presented, the court found the appraisal of Sherri's expert to be more reliable, citing his use of comparable sales as justifying its finding. The court stated, Mr. Lard used a comparable sales method to determine the May, 1993 value and although true comparable sales were hard to find, his comparison and analysis appeared to be justified. Similarly, the District Court found Donovan's cost approach valuation appeared to be unrealistic, believing his reliance on Steve's calculations improper. We therefore affirm the District Court's determination the value of Steve's property was $100,000 at the time of marriage.