Business appraisal companies

[Abdulla]

business appraisal companies performing business valuations that may be subject to litigation should seek the exact legal definition of fair market value in the relevant jurisdiction. However, this may not be as easy as it sounds. In some states, such as California, family law courts sometimes use the term fair market value and then invoke various restrictions on accept­ able valuation methods or other departures from the classic definition. It may require careful study of the case law to understand fair market value in such contexts.

[maxwell_1]

This is a very important point for legal practices for sale and other businesses which may not consider that may not consider that the legal fair value varies from state to state.