Fill and Sign the Stipulation as to Appraisals Minnesota Form

STATE OF MINNESOTA DISTRICT COURT COUNTY OF       JUDICIAL DISTRICT FAMILY COURT DIVISION In Re the Marriage of: Court File No. , Petitioner, STIPULATION AS TO APPRAISALS AND , Respondent, TO: ______________________ The parties hereby agree and stipulate as follows: 1. The following appraisers may be called as the Court's appointed experts, pursuant to Rules 706 and 614, Minnesota Rules of Evidence, as to the fair market value of real estate in which the parties have direct or indirect ownership interests: 2. The particular parcels of real estate as to which each of the appraisers will provide opinions of value are set forth on Exhibit 1 to this Stipulation. 3. Fees and expenses of the appraisers shall be paid in the first instance by the as and when the appraisers render invoices, without prejudice to such division of the appraisers' fees and expenses between the parties as the Court may find just and equitable in its Judgment and Decree. 4. Each appraiser shall render preliminary written reports (one report per parcel) to the parties' counsel on or about , stating the appraiser's opinion of value as to each parcel assigned to him, together with a summary of the data, calculations, and grounds underlying the opinion. The parties contemplate that following receipt of each such preliminary report, their counsel will informally discuss the contents thereof with a view to reaching agreement on stipulated values for as - 1 - many parcels as possible. 5. At any time following receipt of an appraiser's preliminary report (revised by the appraiser, if applicable, in response to such comments thereon as either or both counsel may have made to the appraiser), either party may offer, by written communication to the other's counsel, to stipulate to the fair market value of the parcel subject of such report. Any such offer may propose that the appraiser's opinion of value, or some higher or lower value, be stipulated. The value so proposed in any such offer shall be deemed to have been stipulated by the parties to be the fair market value of the parcel in question 1 unless rejected in writing within ten (10) business days following the service of the offer. A counter- offer, if made, is not subject to being deemed accepted by lapse of time under the provisions of the preceding sentence; and for purposes of the preceding sentence, an unaccepted written counter-offer operates as a rejection. 6. Regarding all parcels as to which the parties have not stipulated to a fair market value by the conclusion of the pre-trial conference, counsel shall jointly instruct the appraisers to prepare final written reports, in the usual form and style of finished appraisal reports, which final reports may be received in evidence as the Court's exhibits at trial. (Alternatively, counsel may stipulate that any of the appraisers' preliminary reports, as revised in response to comments by counsel if applicable, may be received in evidence as to the Court's exhibits at trial notwithstanding that one or both parties disagree with the opinions of value therein stated.) 7. Unless the Court on its own motion rules otherwise, the order of proof as to fair market value of real estate at trial shall be as follows: (a) The appraisers' reports shall be received in evidence, one by one, as the Court's exhibits. (b) Following receipt of each report, the Court shall address questions to the report's author as and if the Court so desires. (c) Each party shall then be afforded the opportunity to cross-examine the report's author as to the parcel in question, with _______ being the first party to cross- examine. Following cross-examination, each party shall be afforded the opportunity for recross-examination (and if necessary re-recross-examination) - 2 - as to matters within the scope of the other party's questioning. (d) Following receipt as the Court's exhibits of all of the appraisers' reports and cross-examination thereon, each party may offer such other and further evidence as he or she desires (including but not limited to opinion testimony of appraisers other than those named herein) with regard to the fair market value of any real estate in which the parties have a direct or indirect ownership interest, other than parcels as to which the parties have stipulated, or been deemed to have stipulated pursuant to paragraph 5, the fair market value. 8. Either party may, ex parte , move the Court for entry of an Order in accord with the foregoing Stipulation. - 3 -