Resolving value through the court system

Deborah Miriam Leshinsky

ERES from European Real Estate Society (ERES)

Abstract: The courts are currently ill equipped to assess property valuations. At present arbiter and unpredictable valuations are being accepted. Current outcomes can be harmful to litigants and wasteful to society. Judges face the same valuation uncertainty as the parties themselves. Expert witnesses are always going to be called by the courts - so the system is in need of a good set of protocols.Currently judges face conflicts in the system, there is a lack of clarity. In order to resolve less error, maintain credibility and refrain from bias, property valuers are required to not deviate from the true value. When statistics are involved it would involve an accurate estimate of value.However property valuers are not taught how to resolve value through statistics - so where is the accuracy in property values in the current judical system?

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2015-07-01
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