Does a South Dakota estate have to hire an appraiser?
Not always, but it may. Under SDCL 29A-3-707 the personal representative may employ a qualified and disinterested appraiser to help establish fair market value as of the date of death for assets whose value is not readily ascertainable, may use different appraisers for different kinds of property, and must show each appraiser's name and address on the inventory next to the items appraised. Equipment lines, collections, and business interests are the usual candidates.
How is property divided in a South Dakota divorce?
Equitably. Under SDCL 25-4-44 the court divides the property between the parties having regard for equity and the circumstances of the parties, not by a fixed 50/50 rule, and the statute sets no valuation date. Current appraisals of the equipment, vehicles, collections, or business interest give the court workable numbers.
Does South Dakota license personal property appraisers?
No. South Dakota certifies and licenses real estate appraisers only, and there is no state license for appraisers of equipment, antiques, or business interests. Our appraisers hold credentials with organizations such as ASA, ISA, NEBB (CMEA), and NACVA and write to USPAP.