§2.08 Co-owned Businesses

If a community interest is co-owned, such as a partnership, one measure of its value may be a provision of the ownership agreement fixing the value of the interest on withdrawal or death. [Marriage of Fonstein (1976) 17 C3d 738, 745-746.] The value set by such an agreement, however, is not controlling. For example, a professional's goodwill that indirectly creates excess income must be considered even if it is not included in the termination rights of the partnership agreement. [Marriage of Fenton (1982) 134 CA3d 451, 461-463.]