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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. A lot of attention must be accorded to property division during a divorce. The property owned by the couples must be shared equitably. A lot of controversies erupts when people interpret the term equity to mean equal portions. Equity is used to refer to a fair distribution of the property. There are more that is incorporated in determination of what should be accorded to each spouse. This means that the process of property division should be done by professional property appraisers. The regulations that govern the distribution of property are different from state to state. Some of the consideration that needs to be evaluated is whether the property in question was acquired jointly? It is also vital to understand whether the property was acquired before marriage. The division will be influenced by assets given to one partner when married as a gift or inheritance. It is also important to know whether the property has appreciated in value. Th efforts given by the partners towards growth of an investment must be provided for. The issues of property division become complex when these and other factors are put into the measure. This makes it crucial to get the process handled by a professional evaluator. 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. When seeking for an appraiser, confirm his certification with the relevant authorities.
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Two appraisals are adequate for residential properties. For investments or commercial properties, you need to get multiple appraisals. Only few experts can handle evaluations involving jewelry, antiques, and artwork. 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. Going through such troubles is not necessary. Under such circumstances, you just need to deal with the divorce and settle as quickly as possible. 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. Multiple estimates will help you get the best value for the property with each spouse being content.