When a couple applies for a divorce, there are more that comes into play before the deal is closed. A lot of attention must be accorded to property division during a divorce. The distribution of the property in question must be done with equity consideration. 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. Determination of what each spouse will get is done after a lot of evaluations have been done. This means that the process of property division should be done by professional property appraisers.
Divorce appraisal laws of different states differ. Factors such as whether the asset was acquired during marriage together by the couples also matters. It is also worth to know whether the said property was acquired by partner before they got married. Property that was given to a spouse as a gift or inheritance will have a bearing on the equation. It is also important to know whether the property has appreciated in value. Another vital element is to know whether the investment has grown due to joint funding by the couples.
The issues of property division become complex when these and other factors are put into the measure. 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. Some states take the date of separation as the date of evaluation while others will take the date of evaluation as the valid date. You need to seek legal advice on the date taken in your style.
The appraisal should be done by a certified appraiser.
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Two appraisals are adequate for residential properties. Several appraisals are necessary for commercial or investment assets. Artwork, antiques and jewelry can only be handled by select few appraisers. In most case, the value of non real estate properties are higher than real estate properties. These include items like cars, retirement plans, bicycles and others. For marriages that have been established for many years, the value of the property might be very high.
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It is always important to understand the state laws as this would minimize the need for court process and stop orders. Going through such troubles is not necessary. You need to finalize the procedure and settle as quickly as possible since you have faced a lot so far. You can bet o the property evaluators available is your state to help you deal with the settlement in the shortest time. It will also be important to look at how the expert charges for his services. Several evaluations of the property will help get a true value of property that will make you both satisfied.