I'm dividing possessions for valuation (8)
I believe the answer is:
estimate
'valuation' is the definition.
(I've seen this before)
'i'm dividing possessions' is the wordplay.
'dividing' indicates putting letters inside.
'possessions' becomes 'estate' (I've seen this before**).
'im' going within 'estate' is 'ESTIMATE'.
'for' acts as a link.
(Other definitions for estimate that I've seen before include "Form opinion of - tea times (anag)" , "Calculate in approximate way" , "Tease Tim (anag.)" , "Statement giving the likely cost of a job" , "Assess value" .)