Property Valuation Cadastral Service
Is an assessment required when dividing property upon divorce?
As mentioned above, you can specify the value of the disputed property in the statement of claim yourself, “by eye” – this is allowed by law. But in some cases, the court necessarily requires an independent assessment of the value of the property, for example…
The court intends to depart from the principle of equality of shares. As is known, in most cases, when dividing property, the court divides everything equally, but in exceptional cases the shares of spouses may well be unequal. To produce a fair section, an assessment of the cost of the jointly acquired one is required
One of the spouses claims a part of personal, not joint property, if during the period of family life the value of personal property has increased significantly due to the investment of money, labor, and time. In this case, it is necessary to estimate the initial value of the property, as well as its value at the time of the division — to determine the share for which the second spouse can claim;
The section is subject to an indivisible property. In this case, it is necessary to establish the exact value of the property object in order to award monetary compensation to the spouse who loses the right of ownership of the property – in an amount proportional to its share.
It must be said that an accurate and independent assessment of the value of the joint property may be required by spouses and outside the legal process for independent division. After all, the services of an expert company will cost much less than the payment of state duty for the judicial procedure section.
n addition, a weighty reason for the examination may be a court decision, for example, about the discrepancy between the price of the claim claimed by the plaintiff and the real value of the disputed property – according to article 91 of the Code of Civil Procedure of the Russian Federation.
In any case, the customer must submit to the appraisal company a package of documents – depending on the object of evaluation. More information about the documents – see below.
Check for more info: https://www.valsqld.com.au/
Most often, peer review services are applied in connection with the division of valuable property, such as real estate or a car. Therefore, we will consider in more detail what documents may be required to assess these property objects.
Documents of title (purchase and sale agreement, gift, exchange, certificate of inheritance, privatization agreement);
- Registration documents (extract from the USRN or an old certificate of state registration of ownership);
- Customer passport;
- Technical documentation (technical passport, floor plan, explication – BTI documents);
- Information about the encumbrances imposed on real estate.
If this is not about an apartment in a block of flats, but about a household or land, it is additionally required to provide an extract from the USRN (cadastral passport) of the property.
How much is the score?
Appraisal company services are paid. The cost of assessment depends on the number of property objects and the complexity of the work. The exact answer to this question can only be obtained directly from the appraisal company.