Court Opinion

ID: 9580893
Source: CourtListenerOpinion
Date Created: 2023-08-21 22:09:58.710007+00
Date Added: 2024-06-11T13:36:35.199099
License: Public Domain

VANDE WALLE, Justice,
specially concurring.
The majority opinion goes to great length to note that “fair market value” and not “liquidation value” is the proper method of valuing property in a divorce, and then observes, “John’s opinion of the value of the property as the price it would bring ‘dumped at auction’ is based on improper facts and analysis because it is based on liquidation value rather than fair market value.” I agree that under normal circumstances there is a difference between market value and liquidation value and that market value is the proper measure of the worth of the property. However, in view of the circumstances existing in the drouth-stricken, depressed economy of western North Dakota there may be little, if any, difference between the market value and liquidation value of property used for the operation of a business engaged in the selling of farm implements, cars, and the repair thereof. Western North Dakota is replete with empty buildings which once held such enterprises and which may be purchased for only a fraction of the assessed value. If the business is operating it may, nevertheless, have a market value considerably lower than its appraised value or its assessed value and there may, in fact, be no real probability that the property could be sold at a price anywhere near its appraised value, given the existing circumstances.
The trial court is entitled to consider those matters in weighing the evidence. It is not in error because it gave more weight to John’s testimony as to the value of the property than it did the assessed value for tax purposes or an appraisal some ten months before trial for loan purposes. Therefore, contrary to the majority, I would not discount John’s opinion as to the value of the property nor exalt the opposing testimony.
Were this issue the only issue in the matter of the division of the property, I would affirm the trial court. I agree, however, that there are questions as to the value placed on other property constituting the marital estate as well as to the debts of the parties. I therefore agree that the matter should be remanded to the trial court. It is my understanding that on remand the trial court is at liberty to accept additional evidence as to the value of the entire marital estate, if it deems it necessary, and to redistribute the property in light of its findings thereon and that it is not necessarily required to adhere to any of its previous findings as a result of this appeal.
I concur in the disposition of the issues relative to child custody and child support.
ERICKSTAD, C.J., concurs.