Today the expense of satisfying another regulator and the risks of Sarbanes-Oxley make going private increasingly attractive for a growing number of banks. More than 20 banks have announced plans to go private this year. Making the move is not without its pitfalls, however. Going private means reducing the number of shareholders by forcing them to cash out. This can become a legal landmine, especially if there is any basis for believing the price per share is less than a fair value. You have to prove that the price you are offering meets a fair value standard. This is different from a fair market value standard; rather than being defined by generally accepted appraisal standards, the definition comes from state law or, in absence of that, case law.
Business enterprise value (BEV) has for many years eluded a universally accepted method of appraisal. It has been the subject of much discussion, writing and even litigation. By definition intangible, BEV is difficult to pin down. This article reviews various methodologies for estimating BEV, and discusses how it relates to various types of real estate. In good economic times and in good locations for a particular property, there is less risk achieving stabilized occupancy. In economic downturns, the property in good operating condition could have a greater BEV, as it is more difficult for a business-related property to reach stabilized operating condition. In a BEV property analysis, it is generally judged most wise and educational to consider starting from scratch, such as with a vaca...
.../or the function of the appraisal, a definition of the estate being appraised, and a statement of ...
... the reason for the appraisal, and a definition of all values required, and property rights apprai...
...(b) Definition. For purposes of this section, management means: t...
... the appraisal, including the type and definition of the value(s) to be developed. (1) Type of Value...
..., and as a minimum, complies with the definition of appraisal in ? 24.2(a)(3) and the five followin...
When issued, FASB Statement of Financial Accounting Standards (SFAS) 157, Fair Value Measurements, sought to bring a consistent definition and framework to the deployment of fair value measurements in accounting. It is expected that the fair value frontier will continue to push outward and eventually encompass more than just financial assets and liabilities. Revisiting the previous definition, it seems clear enough that the land must be accounting-valued based upon its agricultural usage. Agriculture is the only legally permissible use. Transaction costs are the incremental direct costs required to transact in the principal or most advantageous market. As a general rule, such costs do not reduce the fair value of an asset. They ordinarily relate to commissions, legal fees, and other clo...
... appraiser would be acquainted with the Appraisal Institute definition of highest and best use. Unde...
...Subpart B: Appraisal. 644.45 - Rental value. (a) Definition. (1) The f...
...Subpart AGeneral Section 24.2 Definitions and Acronyms Section 24.2(a)(6) Definition of comp...While this part does not require an appraisal for these transactions, Agencies may still decide ...
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