Breaking of a marriage is never easy, and while divorce proceedings can be emotionally exhaustive, it is imperative to settle the property distribution in an amicable and planned manner to rule out any financial distress in the future. Whilst the divorce proceedings are taken care of by a divorce lawyer; to carry out the property valuation, you will need to hire the services of specialized people, who have an experience and expertise in handling asset valuation and division. We offer that expertise to our NRI clients, in preparing a detailed report of the assets, its assessment, valuation and division.
For the purpose of Asset Valuation, the property is usually divided into two categories, namely,
- Joint Property or Marital property, that is acquired by the spouses either jointly or separately during the course of their marriage.
Marital property is the property that is taken into consideration for division among the spouses during the divorce proceeding.
- Individual Property refers to the property owned by either spouse prior to their wedding or the gifts from friends and family. This property is kept out of the purview of division doing divorce proceedings.
We offer the advice and expert opinion required for the correct assessment and valuation of the asset. Although it is always better if both the parties amicably decide to split their assets, you can rely on us even if the other party decides to appeal in the court for the settlement.
Rights of Women during Divorce
Although the law of the country has provided several measures to protect the financial rights of women in case of separation, in most of the cases women are not aware of their rights in the assets or property of her husband. This situation worsens for NRI women seeking separation, as at times she might not be even aware of the assets owned by her husband. Our legal team is well equipped to handle such cases and draw them in the favour of the client. It is advisable for NRI couples to hire the services of an expert for the complete and correct valuation of assets of both the spouses and then proceed with the division procedure. In case, either of the spouses is not satisfied with the process, he/she can proceed to the court against the other.
We, at NRI Legal Services, undertakes a very professional and planned approach in the assessment and valuation of the assets. All the details are furnished after undergoing thorough research by a team of experts, ruling out any chance of mistake. Once all the detail about the assets is compiled, it is assessed and valued according to the current market scenario. Further, this report is shared with the lawyer of another party to reach a consensus about the division. If the parties fail to reach a consensus, other options are weighed including a court case. It is important to have an accurate evaluation of the assets at the time of divorce as it is very difficult to rectify any mistake in evaluation later on and might deprive you of your lawful right.