In THE REAL ESTATE CLIENT: VALUATION SERVES IMPORTANT MASTERS IN LITIGATION CASES, forensic accounting expert witness Richard M. Squar writes on the valuation expert:
The valuation expert provides many assets to the litigation arena of a limited partner’s attempt to recover value for his/her investment. The expert can assist in coordinating, selecting and supervising other experts on the case and help in the assessment of the case and early approximation of ranges of value of the limited partnership interest. The valuation appraiser provides expert testimony, critique of the opposition, and rebuttal. Legal counsel is assisted and supported in developing briefs, discovery, and preparation of interrogatories. The skilled valuation expert also provides litigation support in research and damage calculations.
The valuation expert here is valuing the real estate limited partner’s partnership interest, taking into account its underlying asset value, lack of control and saleability.
The competent business valuation expert provides an independent, unbiased approach with professional demeanor. In a litigation case involving a real estate limited partner, this expert actually serves many masters – the client, legal counsel and the court itself.