Legal Question in Wills and Trusts in Louisiana
What is difference in a regular home appraisal and a succession appraisal (co owners equity distribution) in Louisiana?
Asked on 12/29/09, 6:27 am
1 Answer from Attorneys
Adam Lambert
The Law Office of Adam S. Lambert
There is no difference really. An appraisal is an appraisal. For purposes of a succession, however, you don't really need a full appraisal unless you are going to sell the property through the succession proceedings. In other words, if the heirs all get along and can agree to simply sell the property or agree on a price, you can just get your real estate agent to give you "comperables" or "comps" to set the price according to what other homes in the area are selling for. If there is no fighting over the property, you can just put the heirs in possession of the property and sell it later.
Answered on 1/03/10, 9:08 am