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    Pandora1's Avatar
    Pandora1 Posts: 1, Reputation: 1
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    #1

    Apr 16, 2011, 11:00 AM
    Dividing jointly inherited property
    Some property was left jointly to myself and my sibling by a parent a year ago. The property has some timber on part of it which affects the value of the portion my sibling wants. We are in the process of dividing now without much success. A few months after inheriting, there was an appraisal done using timber values from the date of death. Those were the figures we have been working with. I am now being told that due to a drop in timber prices, the appraisal must be changed to reflect lower values. This is greatly changing my situation. Is this legal or must the original values be used?
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #2

    Apr 16, 2011, 11:42 AM

    It's the value on the date you divide it for purposes of splitting the assets.
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