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Appraisal

Appraisal for the court

Appraisal for the court is performed when the property disputes are heard since usually the question on amount of controversy arises. The questions on specific amount of controversy always arise in a court session and only independent appraisal for the court will be able to become the critical factor which leads to decision in your favor irrespective of whether you are plaintiff or defendant. In more than half of cases, the amount of the claim is questionable since a plaintiff tries to increase it and a defendant tries to decrease it. Therefore, in such cases the court needs a competent expert appraiser.

The appraiser summarizes the appraisal results in the form of expert conclusion. When the court hears the claim, the report on appraisal is used as written evidence together with the other documents.  Under certain circumstances, the court may assign the appraiser to serve as an expert witness. Generally, such possibility and necessity occurs in the three events:

·         when the documents confirming the price of property are missing and the price must be determined;

·         when the market value of property, i.e. the price at which the property can be really sold or bought, to be determined;

·         when the data on the property price submitted to the court are uncertain or to be confirmed.

Any disputes concerning confirmation of rights to assets, money, possession of assets and use of assets on a contractual basis, property damages, i.e. any economic disputes arisen out of property interests may be categorized as the property dispute. 

The situations when appraisal for the court proceedings is required:

·         Partition of property;

·         Divorce proceedings;

·         Condemnation of property for governmental and municipal needs;

·         Occurrence of tax computation disputes;

·         Estimation of damage;

·         Stock conversion, merger and division of the joint stock companies;

·         Determination of the market values of debtor’s assets to the creditor satisfaction;

·         Missing of documents confirming the price of assets subject to legal proceeding when the price of the assets must be determined.