§ 16–2934. Determination of value.

(a) Except as otherwise provided in subsections (b) through (d) of this section, the court shall determine the fair market value of the real property by ordering an appraisal pursuant to subsection (e) of this section.

(b) The court may accept a previously completed appraisal filed with the court as evidence of value; provided, that:

(1) The appraisal is dated not earlier than 6 months before the filing of the action;

(2) The appraisal was completed by a disinterested real estate appraiser licensed in the District; and

(3) No party objects to the appraised value.

(c) If all cotenants have agreed to the value of the real property or to another method of valuation, the court shall adopt that value or the value produced by the method of valuation.

(d) If the court determines that the evidentiary value of an appraisal is outweighed by the cost of the appraisal, the court, after an evidentiary hearing, shall determine the fair market value of the real property and send notice to the parties of the value.

(e)(1) If the court orders an appraisal, the court shall appoint a disinterested real estate appraiser licensed in the District to determine the fair market value of the property assuming sole ownership of the fee simple estate.

(2) On completion of the appraisal, the appraiser shall file a sworn or verified appraisal with the court.

(f) If an appraisal is conducted pursuant to subsection (e) of this section, not later than 10 days after the appraisal is filed, the court shall send notice to each party with a known address, stating:

(1) The appraised fair market value of the real property;

(2) That the appraisal is available at the court clerk's office; and

(3) That a party may file with the court an objection to the appraisal not later than 30 days after the notice is sent, stating the grounds for the objection.

(g)(1) If an appraisal is filed with the court pursuant to subsection (e) of this section, the court shall conduct a hearing to determine the fair market value of the real property not sooner than 31 days after a copy of the notice of the appraisal is sent to each party pursuant to subsection (f) of this section, whether or not an objection to the appraisal is filed as described in subsection (f)(3) of this section.

(2) In addition to the court-ordered appraisal, the court may consider any other evidence of value offered by a party.

(h) After a hearing conducted pursuant to subsection (g) of this section, but before considering the merits of the partition action, the court shall determine the fair market value of the real property and send notice to the parties of the value.