ASSESSMENT OF THE VALUE OF ASSETS
In order to carry out the division of the joint assets of the spouses or other arrangement of the property relations of the spouses, it is necessary to evaluate the type and value of the joint property.
A thorough assessment of the value of the common property is necessary as a preliminary step for the following procedures:
What needs to be assessed?
It is necessary to assess the total joint assets. Property is the set of assets and liabilities of a spouse. When we talk about property valuation, we usually mean the valuation of:
- Real estates
- Bank accounts (pensions, savings, etc.)
- Company shares
- Furniture and furnishings
- Debts of the spouse
Who does the property valuation?
If it is a spousal agreement, the spouses themselves can agree on what their joint property is and what its value is. However, if there are disagreements for this opportunity, experts can be hired to provide an independent view of the value.
If an agreement cannot be reached during the division of property, such an assessment will be made by the court.
Real estate valuation
Real estate is often the most valuable thing during the division of property. For the purposes of valuation, the parties can hire a real estate agent or an independent appraiser whose valuation will be the most realistic.
A common car appraiser can help with the appraisal. In practice, it often happens that the value of the car is not great, and in these cases, it is more profitable to compare it with similar vehicles on the websites for the sale of used cars.
Assessment of debts
For the evaluation of debts (especially if there are credit debts), it is always the best option to choose an independent expert in the economic and financial profession who can accurately determine the amount of debts.