Valuing property leans towards highest value approach

27-June-2013 Family Law By Simone Green

In many property cases, a business’s plant and equipment may need to be valued. But which valuation method should be used – an ad hoc sale approach or market value?

Such a situation arose in a recent case (Martin & Crawley [2012] FamCA 1032 on 10 December 2012), where there was a dispute over the value of machinery, trucks and plant and equipment. The husband contended that auction value was appropriate whereas the wife contended that the value should be determined upon the basis of market value in continuing use.

Justice Coleman preferred the valuation to be based on market value for continuing use as this approach reflected the “highest and best use” of the property.

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Written by Simone Green

Simone Green

Simone Green has been practicing family law for 17 years. After attaining her Bachelor of Arts/Law, Simone chose to further her studies, successfully gaining her Masters of Applied Family Law. In acknowledgement of her expertise in Family Law, Simone was awarded her Specialist Accreditation in Family Law in 2013. Simone is also a Collaboratively trained Family Lawyer and is a member of AACP and CPNSW. Simone is the Director of the Family Law Practice at Streeterlaw.

Call us on 02 8197 0105 to book an appointment with Simone Green!

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