A property appraisal determines the fair market value for equitable division between spouses during separation or divorce.
The professional appraisal plays a crucial role in the property division process by establishing an objective value for matrimonial assets. This independent assessment ensures that both parties receive their fair share based on accurate, current market values.
The appraisal impacts property division in several key ways:
- Provides a legally recognized valuation that can be used in settlement negotiations or court proceedings
- Helps determine appropriate buyout amounts if one spouse wishes to keep the property
- Ensures fair distribution of equity when the property is sold
- Serves as a baseline for calculating other financial arrangements in the divorce settlement