Marital PropertyEntering into a divorce situation involves many emotional and difficult decisions, including "What about the house?"

There are generally two options regarding the house. It can be sold and the proceeds divided, or one party can "buy out" the other. In either case, one or both parties should order an appraisal of the property.

 

Experts That Understand

Divorce appraisals require a well supported, professional appraisal that is defensible in court. When you order from Chicago Appraisals, you are assured that you will get the best in professional service, courtesy, and the highest quality appraisal. We also know how to handle the sensitive needs of a divorce situation.

Property Distribution

Since Illinois is an "equitable distribution" state, the marital property shall be divided in an equitable fashion. Equitable does not mean equal, but rather what is fair. The court will encourage the parties to reach a settlement on property and debt issues, otherwise, the court will declare the property award. 

If the parties cannot otherwise agree, the court will equitably divide the marital property. Marital property is defined as all property acquired by either spouse subsequent to the marriage. More information is available at http://www.divorcesource.com.

(ChicagoAppraisals.com provides general information only and should not be acted upon without professional advice.)