Retiring Appraiser on eve of valuation trial and stipulat=
Posted: Thu Oct 30, 2014 1:01 pm
We would need to know the reasons for the appraiser's retirement and lack of present license. He might still qualify as an expert (the license is simply one indicator of qualification) but, even so, his testimony would probably be excludable as failing to meet the requirements of FRE 702 (e.g., the product of reliable principles and methods, etc.). if opposing counsel is well-prepared and competent, he will excoriate this guy if x-exam is permitted. Finally, if you know that the declaration is not truthful, you have an obligation to withdraw it or to submit a supplemental declaration which corrects the inaccuracies. FRCP 11(b).
Gary R. Wallace
Law Office of Gary R. Wallace
4551 Glencoe Avenue, Suite 300
Marina del Rey, CA 90292
Email: garyrwallace@ymail.com
Office: (310) 775-8719
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To: Section - Small Firms ; cdcbaa@yahoogroups.com
Sent: Thursday, October 30, 2014 12:20 PM
Subject: [cdcbaa] Retiring Appraiser on eve of valuation trial and stipulation
I have a case that is going for a real property valuation trial in federal court. Basically, the trial would be a battle of the appraisers. On the eve of having to submit additional expert declarations for trial, I negotiated with opposing counsel and stipulated to a value that my client believes is about 20% too high. However, my client has now learned that the appraiser is no longer licensed to be an appraiser and he spoke with the appraiser today and that appraiser admitted that the value in the report was too high and that using the comparables he used was not reasonable and would likely subject him to disciplinary review by the licensing organization. The questions are: (1) do you pull the stipulation you already signed and how do you do it if the opposing side files it; and (2) can the appraiser testify now that he is no longer licensed due to retirement -- it would seem he could say he was licensed at the time he generated the report at issue
months ago.
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