Closely Held Business May Not Be Divided In-Kind, but Must Be Valued

Business Valuation Update BVLaw
Legal and Court Case Update
March 31, 2004
6552 Land Subdividers and Developers, Except Cemeteries
marital dissolution/divorce

Norberto Menendez v. Nancy M. Rodriguez-Menendez
No. 3D02-1572 (Fla. App. 3 Dist. 2004)
US
State Court
Florida
Court of Appeals
Alice Elizabeth Warwick, Cynthia L. Greene, Maurice Jay Kutner, Rodd M. Berlin
Wells

Summary

The Florida Court of Appeals reversed the lower court’s in-kind distribution of a closely held business between divorcing parties.

See Also

Norberto Menendez v. Nancy M. Rodriguez-Menendez

The Florida Court of Appeals reversed the lower court’s in-kind distribution of a closely held business between divorcing parties. It found that a distribution that results in leaving the parties financially entangled was intolerable.