Family Law Property Valuation | Expert Witness
In circumstances of separation where assets are involved, an important step in the process is the division of assets, including property. If an amicable agreement cannot be reached between the two parties, then these matters will be determined by the Family Law Court of Western Australia.
If the parties cannot agree on the value of their property, then they may agree to jointly appoint a single expert witness to prepare a property valuation report.
All of our valuers are fully licensed and Associate members of the Australian Property Institute.
A property valuer appointed as a single expert witness has certain duties to uphold and is engaged to provide an objective and unbiased opinion which is also independent and impartial on matters that are within the expert witness’s knowledge and capability, in accordance with Divisions 15.5.4, 15.5.5, 15.5.6 of the Family Law Rules 2004.
Once a property valuer has been appointed as a single expert witness, both parties must provide an agreed statement of facts to the valuer, which forms the basis of the property valuation.
If a single expert witness has been appointed to prepare a report then another property valuer cannot be appointed without the Court’s permission and can only be done in certain circumstances.
A property valuation undertaken for Family Law Court purposes in Perth, Western Australia is conducted in accordance with standard property valuation methodology; however generally a much more thorough and detailed valuation report will be required to submit as evidence.
Given the importance of obtaining the right advice in these circumstances, it is crucial to engage the services of a highly experienced property valuer to conduct the property valuations.
Hemsley Paterson have the requisite experience to undertake valuations for Family Law Court purposes and understand the specific requirements for such engagements.
Contact us to obtain a quote or call on (08) 9322 2070.