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Divorce appraisals: What to know
October 11th, 2023 9:29 PM

Divorce appraisals: What to know

A divorce appraisal is a professional property valuation typically ordered by the court or a family law attorney. It is used to assess the value of a piece of property, whether it's a marital residence, business, or another type of asset, as of a specific date in the past, typically the date of marriage or separation.

What are divorce appraisals also known as?

Divorce appraisals are also known as retrospective appraisals, historical appraisals, or marital appraisals.

Why are divorce appraisals necessary?

Divorce appraisals are necessary to ensure that the division of marital assets is fair. By having a qualified appraiser determine the value of the property, the court can make an informed decision about how to divide the assets between the spouses.

What are the benefits of having a divorce appraisal?

There are several benefits to having a divorce appraisal, including:

  • It can help to avoid disputes between the spouses about the value of the property.
  • It can help to expedite the divorce process.
  • It can help to ensure that the division of marital assets is fair and equitable.
  • It can be used to support the terms of a prenuptial or postnuptial agreement.

How to choose a divorce appraiser

When choosing a divorce appraiser, it is essential to select someone who is qualified. The appraiser should be a member of a professional appraisal organization and should have experience in appraising properties in your area.

What to expect during a divorce appraisal

During a divorce appraisal, the appraiser will inspect the property and compare it to alike properties that have sold recently. The appraiser will also consider the state of the property, its location, and other factors that may affect its value.

Conclusion

A divorce appraisal is an integral part of the divorce process. It can help to ensure that the division of marital assets is fair and equitable. If you are considering a divorce, you should speak with your attorney about whether a divorce appraisal is necessary.


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