physical property

[helloall]

What is the name of your state?What is the name of your state? MI

I understand the difference between marital(community) and non-marital property. But how is the value of marital physical property determined? Such as furnature, pictures, appliances, etc.

Is it based on current estimated value or replacement/retail value? And who determined that value?

Thanks.

[LdiJ]

Originally Posted by helloall

What is the name of your state?What is the name of your state? MI

I understand the difference between marital(community) and non-marital property. But how is the value of marital physical property determined? Such as furnature, pictures, appliances, etc.

Is it based on current estimated value or replacement/retail value? And who determined that value?

Thanks.

My observations have been that its current estimated value. Basically, what you could get for it if you sold it in a garage sale. That is definitely the standard that is used for tax purposes (charitable donations) and bankruptcy court purposes...so it would make sense for it to apply to divorce cases as well.

Except major kitchen appliances....those are usually part of the value of the house....and of course except serious artwork, antiques, silver etc.