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Costs of $14,682.25 awarded to the successful respondent following a matrimonial home valuation trial.
Following a trial to determine the value of the matrimonial home, the court assessed costs.
The applicant contended the home was worth $260,000, while the respondent valued it at $414,000.
The court determined the value to be $392,000, making the respondent the successful party.
As the applicant failed to beat the respondent's offers to settle and the respondent did not better her own offer, the court awarded the respondent costs representing 75 percent of her legal fees, totaling $14,682.25.
Matrimonial home valued at $392,000 after court adjusted the preferred expert's appraisal.
The parties disputed the value of their matrimonial home as of the valuation date.
The applicant's expert appraised the home at $260,000 using local comparables, while the respondent's expert appraised it at $414,000 using comparables from a wider geographic area and making adjustments.
The court preferred the methodology of the respondent's expert but applied a 20 percent discount to the adjustments to account for the subjectivity of appraisals, ultimately valuing the home at $392,000.
