Property valuation is process of assessing the worth of an object, real estate, or any other type of belonging. Since this is applicable to many fields, it is imperative to hire the right property valuation expert witness whose background matches the particular details of your case, whether it is in real estate, business, insurance, fine art, charitable gifting, estate tax, or historic items or landmarks. Valuation may also refer to the worth within a market, investment, or insurance-based context.
Lawsuits involving property valuation may result from a miscalculation on behalf of the appraiser after a certain value has been assigned to the property in question, causing what may be a great financial loss. Property disputes may also occur over property valuation, as one party may claim an error regarding the value or a discrepancy in terms of financial compensation. Property valuation is also required of estate planning, since a deciding factor in the process consists of determining how much one’s valuables and real estate are worth.
Property valuation takes on several forms, including real property valuation, which determines the worth of real estate, and personal property valuation, which determines the worth of one’s personal belongings. These methods of appraisal may be relevant in cases related to escrow, contractual obligations, bad faith, land titles, liens, brokerage, audits, claims, business disputes, assets management and allocation, and other areas related to economics and finance.
Call ForensisGroup today or submit an expert request form for further information on retaining the right property valuation expert witness for your case.