prudappraisals@gmail.com
Louisiana is a community property state. Basically, that means that during the marriage, both spouses have an equal interest in all of their property, except for assets and debts that are considered separate property. When a couple gets divorced in Louisiana, the judge will divide their community property equally, unless the spouses have agreed to a different way of splitting up their assets and debts.
When you divorce, an appraisal of the property held by one or both partners is usually necessary to determine the value of the real estate that will be divided as part of your community property settlement. This type of appraisal is commonly called a divorce appraisal. Another common term used for determining the value of property assets, including real estate, during a divorce is divorce valuation of assets.
Attorneys, as well as Accountants rely on professional property appraisals when calculating the values for real property. This is particularly important during a divorce because the division of assets for the community property settlement needs to be based on the current (actual) Fair Market Value of the property. If you are concerned that you may be in a negative equity situation with your property (meaning you owe more than your home is worth), it is essential that you know the value of your real estate so that you can negotiate a fair agreement between the parties to the divorce.
Unfortunately, divorce happens, and when they do, assets need to be divided. One of the largest assets for many people is their home. Before a divorce can be finalized, the value of the home needs to be determined by a residential real estate appraisal, and then a decision must be made – does one person get the house (perhaps by buying out the other person), or will the property be sold and the proceeds divided along lines similar to the rest of the division of assets? In Louisiana, a Certified Residential Appraiser should perform your divorce appraisal in order to obtain an appraisal that will be defensible in court.
Prudhomme Real Estate & Appraisal Group is experienced in handling appraisals where the date of the appraisal is different than the date the report is ordered, or the date the appraisal is performed.
For this type of appraisal, called a retrospective appraisal, the effective date needs to match the date of the marriage, or another key date in the past. You may also need to be able to substantiate the value of the property when you purchased it, if the property was originally (or still is) the property of one owner prior to the marriage.
Prudhomme Real Estate & Appraisal Group adheres strictly with the Uniform Standards of Appraisal Practice (USPAP), which means the appraisal will be unbiased, professional and confidential.
If you need an appraisal for a divorce, divorce asset protection, or for dividing property assets in the greater New Orleans area, please email prudappraisals@gmail.com, or call (504) 858-7748 for more information.
I had a wonderful experience working with Jeanne! She was very responsive and knowledgeable, making the process smooth and easy. Jeanne was also very professional and courteous, addressing all my concerns promptly. Her expertise in their field was evident, and I felt confident in her assessment. I highly recommend Jeanne for anyone in need of a appraisal services. Overall, it was a fantastic experience!
I highly recommend Ms. Jeanne Prudhomme-Coco as an appraiser. She worked with me to get a fair appraisal of my property for an appeal of the assessor's quadrennial valuation. She was timely, courteous, skilled, and provided a professional appraised value that was well-reasoned and well-supported. Her fees were reasonable, and the appraised value was accepted on appeal. I feel lucky that I found Ms. Prudhomme-Coco and will recommend her to friends and associates.
Jeanne was super helpful! She came out the very next day and measured and had the floorplans available right away. She made getting the house on the market very easy! I will definitely use her again.
What an amazing company to work with! From start to finish, they have been extremely professional and helpful. A true New Orleanian - Thank you so much, we love our new beautiful home.