Can Value of Land in Partnership Agreement

[Denise Carrison]

We are looking to form a partnership with to build on a piece of land we own. Our land would be our injection into the loan. We would own 75% of the LLC and the partner would be 25% silent partner. My husband want to know if it is reasonable or unreasonable to ask and have the land reappraised (as if it were raw land) if they sell the developed property in 10 years. He also doesn't want to jeopardize the deal by asking but he feels he may be leaving money on the table. He consulted an appraiser and was told there are time when that is done. I am just looking to see if that is standard business practice and how that may be perceived.