Legal Help with Resolving Property Valuation Disputes
When spouses part ways, each wants to take their share of the assets they worked hard to acquire together. Yet they do not always see eye to eye on value. Such different views can lead to disputes over assets’ value.
Valuation disputes are common in complex divorces that involve substantial assets. The character of certain assets may make it difficult to assess value, which opens the door to controversy. Complex divorces frequently require property valuation for assets such as:
- Family businesses
- Ranches or farms
- Retirement benefits
- Collector's items—art, antiques, or coins, wine, and stamp collections
For lawyers to arrive at values that both spouses can agree on, they may have to refer to appraisers and other experts.
Understanding the concept of community property under Texas law
A basic understanding of the laws governing Texas marital or community property helps prepare spouses for property division and can lay a foundation to address basic issues during divorce. The Attorney General of Texas website provides a Premarital Handbook, which covers basic information and answers questions about marital or community property.
Property purchased during marriage may entitle the other spouse to some ownership just by virtue of the fact that the asset was acquired during the marriage. Even when one spouse has property prior to marriage, such as real estate, the other spouse's contributions in enhancing the property's value may entitle that spouse to an interest in the property.