A divorce case is quite complicated as it involves several processes. One of the complicated things needed to be done in a divorce case is the separation of the assets acquired by the husband and wife during the subsistence of their marriage. This legal process is necessary whether they are getting absolute divorce or divorce by bed and board. In this process, there is also a necessity to put valuation on all their assets like real properties, personal properties and businesses.
How To Get the Valuation
Normally, the couple will just use the fair market value of the properties at the time of their separation. However, in some instances, determining the said value may become complicated which is why the assistance of an asset appraiser may come in handy. Nowadays, several firms composed of professional appraisers are ready to offer their services to the public. If you are having some trouble on determining the correct valuation of your marital properties, then you can hire the services of the appraisers.
Who Should Hire The Appraiser?
As much as possible, there must be a mutual understanding between you and your ex when it comes to choosing the appraiser. This is to ensure that conflict of interests will be affected. In cases where it is impossible to discuss such matter with your former spouse, then you can file a motion before the court praying that the judge appoint an appraiser.
Should Your Lawyer Interfere in Valuation?
The answer to this question is in the negative. The divorce lawyer is your legal representative in the divorce proceeding. His or her assistance is needed for the protection of your rights and interests during litigation. The services of the said attorney are limited only to the main divorce case. The said attorney has no right to interfere in the appraisal of the assets unless there is a manifest fraud done by the appraiser or the other party.
Who Gets The Property?
After the appraisal in completed, the next thing to be done is the distribution of the assets to each party. The manner of separation of the properties depends on the existence of a private agreement between the parties involved. If there is a contract between the spouses wherein they have agreed on what property goes to one party and what asset goes to the other, then the said contract will be followed. It is considered as the law between them. In the absence of the agreement, the judge hearing the case may include the separation of the marital assets in the court order or resolution.