The role of the property Valuer in the Family Law system in Australia.
||The role of the property Valuer in the Family Law system in Australia.
||23rd Annual European Real Estate Society Conference in Regensburg, Germany
||How property is divided can impact on the financial needs of a former spouse. This very important issue can be overlooked by judges when allocating property and financial resources. In Australia as elsewhere there are considerable risks associated with relationship breakdown and subsequent transition in people’s lives. Risks translate to social and economic costs. For some families the emotional and financial impact of separation and divorce can resonate for many years after the separation and the impact of this distress can impact on the community and public resources in considerable negative way.More specifically when dividing the matrimonial home the court is directed to take into account the financial and nonfinancial contributions made to the property and the welfare of the family.Property Valuers are called in as one of the main stakeholders as expert witnesses to give an opinion of valuation.The property valuation of the matrimonial home can and does end up being distorted putting property valuers under immense pressure in the court system.This paper will look at the bias uncertainty,undervalued and overvalued properties in the court system.
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