Bates v. Bates

BVLaw
Full Text of Court Cases
July 9, 2020
5511 Motor Vehicle Dealers (New and Used)
441110 New Car Dealers
marital dissolution/divorce
goodwill, discount for lack of control (DLOC), expert testimony, income approach, asset approach, discount for lack of marketability (DLOM), fair market value (FMV), marital asset, equitable distribution, appreciation, separate property

Bates v. Bates
2020 Tenn. App. LEXIS 312
US
State Court
Tennessee
Court of Appeals
Scott Womack (wife); Dr. Mark Schmitz (husband)
Bennett

Summary

In appreciation case, appeals court says it was error to value owner’s separate, minority interest in car dealership based on buy-sell agreement; however, alternate valuation by nonowner spouse’s expert offered based on standard methods, including use of discounts, provided “appropriate valuation.”
Bates v. Bates
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See Also

Buy-Sell Stock Agreement Does Not Determine Value of Owner Spouse’s Separate Property

In appreciation case, appeals court says it was error to value owner’s separate, minority interest in car dealership based on buy-sell agreement; however, alternate valuation by nonowner spouse’s expert offered based on standard methods, including use of discounts, provided “appropriate valuation.”