The division of property in an Illinois divorce relies on the precept of equitable distribution. This means a courtroom shouldn’t be legally required to divide a pair’s marital property 50/50. Rather, if a pair can not resolve any excellent division of property issues on their very own, a choose will make a “fair” distribution taking into consideration a number of components.

Of course, before the courtroom can divide marital property, it should decide how a lot the property is value. Appraising a marital asset is commonly simply as contentious of a difficulty for spouses as deciding who truly will get the asset. This is particularly true when coping with the marital dwelling or other actual property.

Testimony Regarding Appraisal Not “Hearsay”

Here is an illustration from a current Illinois divorce case. This is barely an instance meant to present how courts may deal with appraisal issues. The case itself shouldn’t be thought-about binding legal precedent in future cases.

The husband and spouse, in this case, owned a number of items of actual property all through Illinois. The spouse managed the properties. After submitting for divorce, she filed a listing of property with the courtroom that included her assessment of each property’s worth.

At trial, the spouse testified she primarily based her assessments on an appraisal report ready for her a number of months after initiating divorce proceedings. She didn’t determine the appraiser. The husband disagreed with most of the spouse’s valuations. Although he didn’t conduct his personal appraisal, he testified as to what he thought the values must be primarily based on gross sales of “comparable” properties in the identical area.

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