What is a Valuation of the Marital Residence in a Divorce Action

In many New York divorce cases, the marital residence is the single most valuable asset. To determine how this property should be divided, the court or the parties will often need a professional valuation. A valuation is simply the process of determining the fair market value of the home—what it would likely sell for on the open market at the relevant date which is typically the date of commencement.

Valuations are typically performed by a licensed real estate appraiser, who inspects the home, reviews comparable sales in the area, and issues a written appraisal report. Sometimes, each spouse hires their own appraiser, and sometimes the court appoints a neutral expert.