What does a property valuation expert do in a court case in Portugal?
In a Portuguese civil case the judge can order an expert report on value, usually by one expert the judge appoints. If a party asks, up to three experts work as a panel; without agreement each side chooses one and the judge the third (Civil Procedure Code, articles 467–468). The opinion must be independent and testable.
Who can be the expert?
The judge appoints a person of recognised fitness and competence in the matter; the parties are heard and may suggest who should do it, and if they agree on a name the judge should appoint that person unless there is good reason not to (Civil Procedure Code, article 467(1)–(2)).
What about a party’s own expert or arbitration?
A party can also instruct its own valuation expert to prepare evidence, and arbitral tribunals often rely on valuation experts. In every role the opinion must be independent: the evidence, the basis of value and the reasoning have to survive scrutiny by the other side. See Property valuation expert witness and Alternative dispute resolution.
What does a good expert report on value contain?
A clear basis of value and valuation date, the evidence and how it was adjusted, the assumptions, and reasoning a judge can follow without being a valuer. See What is a basis of value under IVS?.
Read next
- Property valuation expert witness
- Alternative dispute resolution
- What is a basis of value under IVS?
- Market value under IVS