Aside from the emotional difficulties involved in a divorce, how do you untangle a life that has been built as a couple? It is one thing to divide up furniture, dishes, and garden tools, but what about your home or your business?
In North Carolina, the equitable distribution laws presume that an equal split of marital assets is equitable. How do you determine what is equal? First, you must value all your marital assets to see what your marital estate looks like
That is why your attorney will advise you to get an appraisal of your home, as well as your business if you are a business owner. Once you have appraisals of your largest assets, then you can get a better idea of how to divide your assets. If the parties still cannot agree on how to divide the marital assets, then the judge will use those appraisals to aid in valuing the property and subsequently entering an order on equitable distribution.
House Appraisal for a Buyout or Sale
If one of the spouses wants to stay in the marital home and take over the mortgage payments, an appraisal can be used to facilitate the buyout of the other spouse’s interest. A house appraisal for divorce is used to prevent unnecessary haggling over the fair market value of the house and provide the parties with real numbers.
If the best option is to put the home on the market, the parties will have to agree on an asking price. Typically, the parties will take the recommendation of their realtor when deciding on a listing price; however, an appraisal can also help determine an appropriate listing price for the home would be without bringing contentious emotions into play.
We Can Help
If you are considering divorce or separation, the attorneys at Robison Smith Law can help you understand your legal rights and options. Contact us today and let us ensure that your assets and debts are divided appropriately.
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