Matrimonial Print

Divorce proceedings require many decisions, especially when there is a substantial asset allocation to be agreed upon, such as the matrimonial home.

The disposition of the matrimonial home in a divorce proceeding usually involves two viable options. The house is sold with the proceedings being divided amongst the two parties or one partner can ‘buy out’ the other.

While the first option is fairly straight forward, the second option often results in differing opinions with respect to each party’s expectations of the value of the matrimonial home. Questions such as who will end up with the house, what is it currently worth and what was it worth as at the date of separation are usually foremost.

This is where a professionally prepared appraisal report prepared by a designated member of the Appraisal Institute of Canada, will contribute toward a fair and equitable settlement.

Our firm is familiar with the requirements and procedures necessary to perform not only a current day value estimate but also, a retroactive appraisal estimating market value as at the date of separation.

Our firm provides two services in matrimonial situations:

  1. A professionally and independently prepared appraisal report estimating the market value of the matrimonial home.
  2. In the case where both parties have already commissioned independent appraisals but still can’t agree on the value, our firm will provide a professional appraisal review service of both reports (see Appraisal Review section). Instead of spending hours arguing over a valuation discrepancy, our firm will review both reports and provide you with our best professional opinion regarding both reports.

When an appraisal report is commissioned, we will need to know the date(s) of valuation required by your lawyer, mediator or accountant. If a retrospective estimate is required, we will also need to know what improvements, if any, have been made to the residence in between the two dates (current date vs date of separation) such that any asset allocation regarding the recent capital improvements can be equitably dealt with during the mediation process.