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Valuing your assets for division in a fluctuating property market

Valuing your assets for division in a fluctuating property market

Friday 24th of June 2022
By: Charlotte Geddes, Partner, Coote Family Lawyers

Hoping I don't need you again, but if I do, it will be a pleasure.

We separated a while ago.  Do we value our assets for division at the date of separation or today's date?

When determining an appropriate property settlement, a Court must have regard to the assets and liabilities available for division between the parties. This includes all assets and liabilities owned by the parties personally or in which either party has an interest (held individually, jointly or through a company or Trust).

Often there are disputes in relation to the value of assets and liabilities. If the value cannot be proven by a document (such as a bank statement to verify the value of a bank account), a valuation may be required. In those circumstances, we typically appoint a joint expert to value the asset (or financial resource) in question. Most commonly, valuations are required of real properties and business interests.

The relevant date for valuing the assets and liabilities is the current date, not the separation date. The impact of this in relation to real estate market in particular can be significant, particularly given the significant rises in house values in recent years and where decreases in property values are anticipated. Expected changes in the market may also inform parties’ decisions about when to sell properties (in which case valuations are not required).

For further information in relation to this, please contact our team of top family lawyers on 03 9804 0035.

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