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State of Kansas Department of Revenue Sam Brownback, Governor Nick Jordan, Secretary Division of Property Valuation David N. Harper, Director 2014 Year Oil & Gas Appraisal Guide January 2014 PVPP18

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How to fill out division of property valuation

01

Step 1: Gather all relevant documents related to the property such as the purchase agreement, mortgage documents, and any appraisals or inspections.

02

Step 2: Determine the current market value of the property by obtaining a professional appraisal or conducting research on comparable properties in the area.

03

Step 3: Identify all assets and liabilities associated with the property, including debts, mortgages, and any joint accounts.

04

Step 4: Calculate the ownership shares or percentage of each party involved based on their contributions to the property's purchase, maintenance, and improvement.

05

Step 5: Determine the best method of division, which can include selling the property and splitting the proceeds, buying out one party's share, or transferring ownership to one party while compensating the other.

06

Step 6: Prepare a clear and detailed division of property valuation report, including all the relevant information, calculations, and proposed division methods.

07

Step 7: Present the division of property valuation report to all parties involved and seek legal advice if necessary.

08

Step 8: Negotiate and reach an agreement with the other party on the division of property based on the valuation report.

09

Step 9: Document the agreed upon division of property in a legal agreement or divorce settlement.

10

Step 10: Implement the agreed upon division of property, which may involve transferring ownership, selling the property, or making financial arrangements as per the settlement.

Who needs division of property valuation?

01

Individuals going through a divorce or separation who need to divide their shared property.

02

Couples or co-owners looking to dissolve a business partnership and split the property assets.

03

Estate planners and executors who need to determine the fair division of property among heirs or beneficiaries.

04

Financial institutions or lenders involved in foreclosure or loan default cases where property valuation is necessary for asset division.

05

Government agencies or organizations involved in land or property disputes that require a professional valuation for fair resolution.

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What is division of property valuation?

The division of property valuation is the process of determining the value of a property that is being divided between parties, such as in a divorce or inheritance.

Who is required to file division of property valuation?

Individuals who are dividing property as part of a legal process, such as divorce or inheritance, are required to file division of property valuation.

How to fill out division of property valuation?

To fill out a division of property valuation, individuals will need to provide information about the property being divided, its value, and any other relevant details.

What is the purpose of division of property valuation?

The purpose of division of property valuation is to determine the fair market value of the property being divided in order to ensure an equitable distribution.

What information must be reported on division of property valuation?

Information that must be reported on division of property valuation includes property details, valuation methods used, and any other relevant information.

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