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Property Appraisal during Divorce When a couple applies for a divorce, there are more that comes into play before the deal is closed. Divorce calls for a lot of attention in dealing with the distribution of property. The divorce process requires that property be shared equitably. There is always a problem when people fail to understand what is meant by equity. The property involved is not divided in an equal proportion. The factors used to determine the share that each spouse will get involves lots of technicalities. As such, professional property appraisers are involved to determine the division. The regulations that govern the distribution of property are different from state to state. Factors such as whether the asset was acquired during marriage together by the couples also matters. It is also vital to understand whether the property was acquired before marriage. Property that was given to a spouse as a gift or inheritance will have a bearing on the equation. Until appreciation of the asset is considered, the accounts are not closed. Th efforts given by the partners towards growth of an investment must be provided for. All these factors and others put together to make the issues of property division complex issues. It is important to have a professional evaluator handling the process. The appraisers need to be experienced in dealing with divorce appraisals in the specific state. There are states that will consider the date of separation to determine the value while others will only consider the value after conclusion of the divorce process. It is thus important consult a legal expert on the valid date in the said state. Working with a local appraiser who is acquainted with local procedures will simplify the process.
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Two appraisals are adequate for residential properties. For investments or commercial properties, you need to get multiple appraisals. Artwork, antiques and jewelry can only be handled by select few appraisers. The worth of real estate properties is in most case less than that of non real estate properties. These are but not limited to items like bicycles, cars, and retirement plans. he value of the properties can go high especially for marriages that have been in existence for long terms.
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With a clear understanding of the state laws will help you avoid legal procedures and injunction orders. There is no need to go through such disturbances. You need to finalize the procedure and settle as quickly as possible since you have faced a lot so far. The property appraisers who are in your state can assist you to finalize the division of property with ease. It will also be important to look at how the expert charges for his services. It is easy to get an estimate that will get both of you satisfied if you look for multiple estimates.