Vehicle Valuation Before Sale to an Heir
Direct answer: Yes, the remaining heirs have the right to request that the vehicle (or any other movables) be evaluated by an expert or certified appraiser before agreeing to sell it to the heir.
Since giving the car to one of the heirs is considered a “division of consent”, consent can only be achieved by knowing the fair market value of the eye to ensure that the rest of the heirs are not exposed to injustice or favoritism in their legitimate shares.
Disclaimer: This is a legal article that provides information that does not replace consulting a competent lawyer to help you and for more accurate information.
The law guaranteed this right, enabling the court and the liquidator to seek the assistance of experts to evaluate the entities, as follows:
An expert was seconded by the court:
Article 16 of the Joint Funds Division Regulations stipulates that: “The Department may appoint one or more experts to prepare a statement of the funds subject to division, and a statement of what is acceptable for compulsory division and what is not… and other matters that the Department deems necessary.”
Seeking the help of experienced people through the liquidator:
Article Forty-Four of the same regulations stipulates in the division and liquidation procedures that experts shall be sought when necessary to sort and evaluate what can be divided and what cannot.
What happens after the evaluation?
After the expert report is issued and the fair price of the car is estimated:
If he agrees
All heirs agree to sell to the heir wishing to purchase at this valuation price, and their share thereof shall expire by mutual consent.
If he refuses
If the heir refuses to buy at the price set by the expert, or if one of the heirs refuses to sell even at this valuation price (due to lack of consent), the court will override this request and order the car to be sold at public auction, which will be the actual and final measure of its value.
For law and legal consultations..Contact the office of lawyer Abdul Majeed Al Rashid.
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