South Dakota Codified Laws 29A-3-707. Employment of appraisers
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The personal representative may employ a qualified and disinterested appraiser to assist in ascertaining the fair market value as of the date of the decedent‘s death of any asset the value of which may not be readily ascertainable. Different persons may be employed to appraise different kinds of assets included in the estate. The names and addresses of any appraiser shall be indicated on the inventory with the item or items appraised.
Terms Used In South Dakota Codified Laws 29A-3-707
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Decedent: A deceased person.
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
Source: SL 1994, ch 232, § 3-707.