Divorce Appraisal
A divorce appraisal speeds negotiations and usually can be performed by a mutual divorce appraiser. Splitting up the assets in a divorce conjures up visions of the house and cars divided by a cleaver so each party shares a half. In many instances if the house is valued at $200,000 or more, the contents, marital personal property, equals or exceeds the value of the house. Finalizing the divorce requires many decisions. If one spouse wants the silver set then an accurate value must be decided so that the remaining spouse can apply the appraised value of the silver set toward a painting or other assets. There are always three options regarding the house, vehicles and personal property assets:
- With a divorce appraisal all property can be appraised and divided according to value between the couple, or
- The real and personal property assets can be sold and the money divided, or,
- One spouse can “buy out” the spouse that would prefer to have cash.
In this divorce example there can also be a combination of asset and cash division, In all examples, both parties should insist on a divorce appraisal of all the real and personal properties. A real estate appraiser is not qualified to automatically appraise your personal property and can be impeached as the expert witness UNLESS he has separate requirements and education that qualifies him to appraise personal property. A divorce appraisal requires an appraiser that is accredited to do both real and personal property. All divorce appraisals will require an appraisal that is certified by an accredited divorce appraiser but most of all the appraiser must prepare a report that is irrefutable if litigation should follow.
Durkin Valuation Associates have over 70 years combined experience in valuations. For the past 30 years we have valued divorce appraisals nationwide with discretion, confidentiality and accuracy. As expert witnesses our divorce appraisals have been defended with irrefutable testimony. Durkin Valuation Associates participates in ongoing divorce appraisal education with ASA, NAPA, NAA and we are USPAP 2008 – 2009 compliant.
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