DIVORCE SETTLEMENT
A divorce can be a particularly traumatic
experience for both parties and is often further
complicated by the difficult decision of "Who gets
the house?". In most divorce cases, the Court won't
usually force the parties involved to "buyout" the
other party's interest but it may however order the
sale of the home so each party gets an equal share
of the equity. Regardless of the situation, it's a
good idea to order an appraisal so both parties are
fully aware of what the true market value is.
If the
parties want to sell the home, they'll have a better
idea of what price to set. And on the flipside, if
a "buyout" is the chosen option, both parties will
feel like they've gotten a fair assessment.
ESTATE LIQUIDATION
The loss of a loved one is a difficult time
in life and settling an estate from a death, or
probate, often requires an appraisal to establish
Fair Market Value for the residential property
involved. The ethics provision within the Uniform
Standards of Professional Appraisal Practice (USPAP)
binds us with confidentiality, ensuring the fullest
degree of discretion.
Unlike
many wealthy individuals, the majority of Americans
do not have dedicated estate planners or executors
to handle these issues. Also, in most cases, a home
or other real property makes up a disproportionate
share of the total estate value.
Here
too, an appraiser can help. Often the first step in
fairly disposing of an estate is to understand its
true value. Where property is involved, the
appraiser can help determine the true value. At
this point, equitable arrangements can more easily
be arrived at among disputing parties. Everyone
walks away knowing they've received a fair deal. |
