Property Issue after divorce

He procedure for valuing property, other than received free of charge, after a divorce is very important, because any things have their price, which means that it is necessary to find out if the division of property is as fair as possible. And it is also important to take into account that over time, in the process of depreciation, the value of items decreases, and sometimes even depreciates altogether. So it’s definitely not worth it to delay the evaluation of property after the divorce.

In general cases, partners in divorce can claim equal shares in the division of joint property, not including received gratuitously, but in practice it turns out to be fairly divided in half. That is why often the second spouse after the divorce is offered compensation, for example, for his share of real estate. So it is very important to have up-to-date information about the real price of the fissile property, otherwise the other party will be able to file a claim for contesting its value.

Another reason why it is important to assess assets and real estate after the divorce is that the amount of state duty directly depends on their value, which will have to be paid when applying to the court.

It is also necessary in cases of filing a suit in court, when the former couple failed to reach an agreement on the property issue after the divorce.

Who should evaluate the divorce?

An independent appraisal of property in case of divorce is carried out on the initiative of the court or the spouse applying for assets or real estate, with the exception of those received free of charge. The evaluation can be commissioned by independent experts in specialized companies engaged in this or conducting it independently.

A spouse who submits a claim after divorce to a judicial organization can independently assess the value of all items subject to division, so to say “by sight”. However, it is important to take into account that the second party may disagree with your assessment and file for challenging its value. In this case, the court will transfer the mission to assess the property of the valuation company, whose services, naturally, have to be paid.

If the ex-husband filed a claim to contest the cost of the subject of the division after the divorce, then notice that the company that has legal permission for this, that is necessarily having a state license, should be engaged in the evaluation.

Check this for more info:  https://www.valsnsw.com.au/

Own does property evaluation work during divorce?

For this procedure, it will be necessary to make a list or list of all items subject to division, of course, not including property received free of charge, as well as indicate their value. Next, you have to collect documentary evidence from the appraiser in the correctness of the number you indicated.

After the appraisal company gets acquainted with the list and documents, they will draw up and conclude a contract with you on providing services for assessing the subject of the division after the divorce. And they will also give you a convenient time and date for the procedure.

It is worth noting that first of all they will be engaged in assessing the property that has the highest cost, of course, this does not include real estate and assets received free of charge before the divorce. Also, the appraiser will conduct a visual inspection of all items subject to division after the divorce, take photos of the valuated property and, based on the received data, will make an accurate calculation taking into account all the nuances.

After that, the employee of the appraisal company will give you a ready-made, numbered, signed and sealed report within 5-7 days after the inspection, in other words, an assessment report. Since the evaluation can be carried out in different ways, the specialist should indicate the method used in the conclusion.

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