In divorce cases a certified valuer can act on behalf of both parties, or each party has their own independent practicing valuer since property assets must be divided fairly. Sometimes a property valuation involves a retrospective value or a current market value found on the day of divorce. A valuer gives the best property advice in this legal process, because of his search he can assist. A matrimonial valuation also called a family law valuation is required in this situation, the worth of the real estate is demand to complete settlement of a matter.
Even if one party hired another valuer from another company, it is still necessary to have our Formal Valuation Report completed on each property being divided. This process is very emotional often traumatic for our clients, and we have enough experience on how to handle these clients and the situation they are in. Here are a few situations where a matrimonial or family law valuation may be requiered:
We strongly advise an independent valuation, because conflicts can be prevented which may arise after the property transaction. Sometimes one of the parties finds out that the other party may have significantly benefited from a property settlement, which causes disputes afterwards. Other times the parties disagree on how the assets are going to be divided. Our valuations for matrimonial settlements has standing in the court of law, and with government authorities.
When a business is involved things can get very interesting for our valuers. A business is another form of property compared to a home or a vehicle. Sometimes one of the parties claims that he or she is the only value in the business and if they were not married it would have no value.
Another problem is that a party underestimates the importance of a business, which is seen in the value it gives to the business. He or she undervalues the business massively, however this is obvious because he or she didn’t have any involvement in the business. Businesses are also used to hide money. If one of the parties holds the business, they can intentionally manipulate their income (for example by building their expenses up), to reduce child support payment obligations.
Yet another important aspect to do research on when a business is involved is by checking for loan accounts. Sometimes a party owes money on the business or money is owned to him or her. However some businesses are not valuable to sell, but it is still a valuable asset because it provides an income. Another important aspect that is important in this process are the children arrangements.