When a property is owned by more than one party, a time may arise where one of the parties wishes to sell their share to the other party. To assist in the negotiation process it is strongly recommended an independent valuation report on the property be carried out by a qualified property valuer. Central Coast Property Advisory Service specialises in carrying out independent reports on all property types to ensure all parties achieve a fair and equitable outcome in a property settlement matter.
What is a family law valuation?
When there is a separation of two parties through divorce/breakdown of a marriage/defacto arrangement. A market valuation by a qualified valuer can assist to resolve any disputes which may arise as to the current market value of the property in a family law/property settlement matter.
Family law valuations are carried out in accordance with Family Law Court Rules where the valuer is appointed to act as an independent single expert witness on behalf of the court. Central Coast Property Advisory Service has a deep understanding of the requirements of the Family Law Court Rules in these matters.
In the majority of Family Law Property Settlement matters, both parties will generally agree to appoint a single expert valuer to act on their behalf to assist in a property settlement. On the other hand, in some circumstances, each party may independently appoint a valuer to act exclusively for them to assist in a property settlement.
Why and when do I need a Family Law Valuation?
Family law property settlements can be very emotional property transactions. Whether it be a deceased estate, separation/divorce, internal family share buy-out or buy-in, an independent valuation by a qualified valuer is strongly advised.
An independent valuation can prevent disputes which may arise after the property transaction. Commonly disputes arise when it is discovered one party may have significantly benefited from a property settlement. These matters are not easy to deal with but obtaining an independent current market valuation prior to the sale or purchase of a property or a property transfer can often avoid disputes and disappointment.