Transcript

Claire Aumuller: If you and your ex-partner are unable to agree on the value of your assets in your property settlement, here are three options. Hi, I’m Claire Aumuller. I’m a family lawyer here at Turnbull Hill Lawyers. Today I’m going to speak with you about how you go about valuing the family home for the purpose of your property settlement. Often the family home will be the asset or the highest value in the property pool.

Where parties are unable to agree on what the value of the family home should be, often the simplest thing that you can do is obtain a few different market appraisals and propose a value that’s at the mid-point of those estimated in the appraisals. If the appraisals do not resolve the valuation dispute, parties are able to jointly instruct an independent valuer to provide a valuation on the family home. Typically the cost of appointing the valuer is shared equally between the parties.

Finally, if the parties are unable to agree on a valuer, the parties can apply to an independent institution such as the Australian Property Institute who will then nominate a valuer for the parties. Valuation disputes can be resolved through negotiations while you’re working with your lawyer. So if you do require assistance please don’t hesitate to contact us here at Turnbull Hill Lawyers.


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