The recently announced divorce between two powerful people in the world of real estate illustrates important points to Tampa residents may also have considerable wealth tied up in commercial or investment properties.
According to reports, the couple, who between themselves own millions in pricey commercial office buildings and other real estate, have managed to negotiate a settlement between themselves as to how they will divide their property.
Granted, not every Tampa couple going through a high asset divorce or other split will have such an extensive and valuable real estate portfolio. However, any commercial property or other investment property, like rentals, for instance, can make property division a difficult task.
For instance, when it comes to getting a value on commercial or investment property, it might not be as simple as checking for an estimated sale price online or even calling a real estate agent for a market analysis.
Indeed, there are a number of ways in which one can reasonably estimate the value of commercial property. By way of example, it may not always be entirely fair to determine the value of a piece of income-producing property simply by comparing it to similar properties. The real question, after all, is how much revenue the property will provide over time, and how reliable that stream of income will be.
Especially for larger buildings like high-rise office buildings or strip malls, estimating a value can be very complicated and require the opinion of a number of experts.
However, putting the right value on real estate can be the key to getting a fair property division during a divorce or even a breakup between a couple who never married. A legal professional can help those facing these circumstances navigate through the process.