Divorce and real estate disputes involve many valuation decisions, including “Who gets the real property and what is the Value”? In a divorce there are generally two options regarding disposition of real property – it can be sold and the proceeds divided, or one party can “buy out” the other. In either case, one or both parties should order an appraisal of the real estate by a qualified appraiser.
Preparing an appraisal in a dissolution of marriage for settlement requires a real estate valuation expert that can support a defensible value opinion in court. Just like choosing a doctor, attorney at law, accountant, CPA, or estate planning professional it is wise to review the resume and qualifications of the appraiser when the estate involves residential, industrial or commercial real property.
It is strongly recommended by most professionals that before any real estate settlement agreement is finalized, the parties seek consultation with a tax attorney or tax professional to review the real estate tax consequences in a California dissolution of marriage.
If you are divorced or separated from your spouse and have California real estate, it is important to obtain a defensible appraisal report that is acceptable to both the courts and the IRS from a qualified appraiser that can also be used by your attorney in a settlement proceeding, mediation, or arbitration matter. In both of these instances, selection of a qualified expert appraiser is very important.
When ordering an appraisal from AppraiserValues.com you are assured that you will get professional friendly fast service and the highest quality commercial and residential reporting. We also know how to handle the sensitive needs of divorce situation. It is equally important that you select a commercial real estate specialist who has the experience and knowledge necessary to prepare appraisals according to IRS Real Property Valuation Guide Lines. We believe valuation reports prepared or supervised by a designated Member of the Appraisal Institute provides you with the highest quality reporting in the industry. Institute Members hold some of the highest industry professional real estate designations and have the necessary educational background and years of experience needed to prepare appraisals for dissolution of marriage or legal separation.
Attorneys and accountants handling a divorce rely on appraisers when determining real property valuations for estates, estate tax return filing, separations, marital disputes, bankruptcy, or partnership dissolutions requiring a value being placed on homes or investment real property. As real estate professionals we understand divorcing parties needs and we are used to dealing with all parties involved. We can prepare residential home, commercial income property, and industrial real estate reports throughout Southern California that are in compliance with the Uniform Standards Of Professional Appraisal Practice (USPAP).
If you are a family law attorney handling division of real property assets, your needs often times include hiring a real estate valuation expert to establish “Fair Market Value” (FMV opinions) and to provide expert testimony. Many times the separation date differs from the date you order the appraisal. In those situations, we are familiar with the procedures and requirements necessary to perform a forensic retrospective valuations with an effective date and “Fair Market Value” (FMV opinion) matching the date of separation. The ethics provision within USPAP binds us with confidentiality, ensuring the fullest degree of discretion.
AppraiserValues real estate appraisers does not intend to give legal, tax, financial planning advise. We are not attorneys, lawyers or legal advisors. You should check with your attorney, adviser, and or accountant regarding the divorce process and any other matters before proceeding with any course of action.
Divorce Attorney Resource Links:
Orange County Family Law Court – The family law clerks office and family law courtrooms are located at Lamoreaux Justice Center in the City of Orange and is part of the Superior Court of California County of Orange.
Divorce Manual : A Client Handbook – This publication produced by the American Academy of Matrimonial Lawyers covers the divorce process, reconciliation, counseling, selecting a divorce lawyer, estate planning considerations, and the lawyer-client relationship.
Los Angeles Family Law Court – The family law information center provides information and assistance to the public. The FLIC also provides legal forms and instruction on procedural guidance in areas of marital dissolution, legal separation, annulments, and other related information.