Here are 5 key tips when it comes to Art and other Antiques in a Divorce and Relationship Property situation:
- Art, antiques and related items normally need to be valued by a specialist.
- Consider the real market value and how important that item is to that person.
- Consider sharing the cost of any valuation.
- Particularly in this area, possession in 9/10th of the law. In some cases after separation items go missing and it is very difficult therefore for them to be valued. In such cases parties can turn to the insured value. Make sure that photographs are taken of major items during the relationship in case they go “missing”.
- Normally items are insured for more than their replacement value.
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