Divorce Appraisals
Determining Real Estate Value
Determining Equity
Equity is the true value of the asset of the property to the parties. It is determined by subtracting the encumbrances against the property from the Real Estate Value. Encumbrances may include any loans secured against the property including mortgages, second mortgages, home equity loans or secured lines of credit. Under Washingotn case law, costs associated with a sale of the real estate are not deducted unless the home will actually be sold as part of the divorce.
- Premarital. Any asset acquired before the marriage (if the asset was encumbered by a loan that was paid off during the marriage, it may only have a partial non-marital value);
- Prenuptial Exclusions. An asset excluded by a valid prenuptial agreement;
- Personal Injury Proceeds. Personal injury settlements are generally considered personal to the injured party and are non-marital in nature;Inheritance. Any proceeds or assets from an inheritance;
- Gifts. Any asset acquired as a gift to one, but not both parties.
