How to value estate property to be divided?

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How to value estate property to be divided?

After a 3 year legal dispute over some real estate property jointly owned with the deceased, the case was finally settled with a 50/50 split of assets and liabilities. When the property is finally sold can I claim my 50% share based on the value of the property 3 years ago on the date of the deceased or would I have to settle for 50% of the sale price?

Asked on February 8, 2011 under Real Estate Law, New Jersey

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

If you look at it from a different perspective, the estate values the property as of the date of death.  Although I think that you have a really valid issue here and a valid argument to make for valuing it three years ago- and I am going to assume that it is worth more then than now? - you are going to have another fight on your hands getting more than the 50%.  I would speak with your attorney who handled the litigation for you on the matter.  You may wish a Judge to rule on the issue but remember: no Judge is going to allow you to be unjustly enriched.  Good luck.


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