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Difference between revisions of "Family Law Act Basics"

From Clicklaw Wikibooks
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====Value of property====
====Value of property====


The value of property is what a reasonable stranger would pay to buy the property in its current state. This is called the property’s ''fair market value''.
The value of property is what a reasonable person would pay to buy the property in its current state. This is called the property’s ''fair market value''.


The date property is valued is the date of the agreement or court hearing dividing the property.
The date property is valued is the date of the agreement or court hearing dividing the property.