Legal Question in Real Estate Law in California
Divorce and Real Property
Can the county property tax roll assesment be legally used to determine a value on a house in divorce settlement papers or must an appraisal be done? What must the petioner provide to prove the stated value/loan balance/equity in the real property in the settlement papers?
2 Answers from Attorneys
Re: Divorce and Real Property
The assessors information on the current tax roll is worthless. It is based on the original purchase price, not current market value. You must agree on a value, or you will need to get appraisals to support your claim.
Re: Divorce and Real Property
An appraisal gives the best estimate of the value of the property. You will have to pay for an appraisal. You can send out a demand to produce documents and request that he provide a copy of the mortgage payment notice. This is the most common method. Otherwise you can contact the mortgage company and obtain the same information. If your name is on the loan a simple letter should be sufficient. If that is not sufficient then a subpoena duce tecum wil requir the mortgage company to produce the loan information. It is your responsibility to confirm that the information is correct. With the amount of money that is normally involved in the sale of a house you should seriously consider retaining an attorney to represent you.
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