With family law matters, a single expert witness (a certified practising valuer, registered by the Australian Property Institute) is appointed and instructed jointly by both parties. Rules in the Federal Circuit and Family Court (FCFCA) require that evidence about the value of a property be given by a single expert witness. This assists in minimising costs and maximising efficiency. The value provided by the single expert is accepted by the Court as evidence.
Although the Family Law Rules encourage the use of a jointly appointed single expert witness valuer, there are situations where each party may independently appoint a valuer to act exclusively for them. In this case, each party will need to apply to the Court to accept the evidence given by their valuer. This approach is likely to be more costly and potentially a longer process to reach an agreement.