Legal Question in Wills and Trusts in New York
appraisals
How is the rent of a 2 unit house figured into the appraisal? This is for estate purposes.
Asked on 3/27/09, 2:44 pm
1 Answer from Attorneys
jeffrey lazroe
Jeffrey A. Lazroe attorney at law
Re: appraisals
Actually it is the real estate appraisal who makes this determination, not the lawyer.
Some appraisals don't consider it, or give it minimal attention.
Others give it great consideration.
The in-between ground is that the rent should be consistent with the other two units in the neigborhood and since value is based on comparisons of equal property, it should even out in the end.
If you would like to discuss the matter further please feel free to contact me.
Answered on 3/31/09, 10:22 am
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