Understanding Property Valuations During Divorce

When you are dividing assets during a divorce, it can be very difficult to come to a complete agreement on how assets should be valued. There is likely to be a great deal of assets of sentimental value in the mix; therefore, it can be difficult as a divorcing couple to be objective on these issues.

This is why it can be a smart and helpful option to look into professional valuations. This can help you allocate assets and organize things in a fair and sensible way.

What kind of assets can be professionally valued?

All different types of assets can be appraised by professionals, from the property that you live in to sentimental items such as jewelry and antique furniture.

Will a valuation be enough to solve conflicts?

In many cases, knowing the objective worth of marital property will be enough for couples to divide assets equally between each other at his or her own discretion. However, for others, the conflict may not stop there. If conflicts about asset division still continue to arise, a lawyer or a divorce mediator may be able to assist in the resolution process.

How are homes valued during a divorce?

Usually, a comparative market analysis (CMA) will occur. This takes the most recently sold properties in a similar location to your own and makes a valuation by comparing your home to theirs.

If you are struggling to successfully divide assets and come to sensible agreements with your divorcing spouse, it is crucial to consider ways that you can resolve the situation. Understanding objective values of assets can be helpful in this respect.

Source: Love to Know, "How Property Valuation Is Determined for Divorce Settlements," accessed Jan. 19, 2018