Matrimonial Valuations London

A matrimonial valuation is an impartial, professional assessment of property and assets conducted by an RICS registered valuer during divorce or separation proceedings. It provides an accurate market value that helps ensure fair division of assets between parties and can be used by the court to determine settlements.

An estate agent’s market appraisal only estimates a property’s worth informally, whereas a RICS valuation is a formal procedure that produces a detailed written report accepted by courts and legal professionals. Only a qualified RICS registered valuer can provide the impartial, professional valuation required for legal proceedings.

By acquiring a matrimonial property valuation, you can:

Get Advice from an Independent RICS Registered Valuer
– This will give you a professional, impartial valuation.

Prevent Legal Disputes
– With an independent valuation, you can avoid the need to go to court.

Obtain What’s Rightfully Yours
– You only give up assets you believe belong to you once you have a market valuation.

Provide Court Proceedings Go as Smoothly as Possible
– An accurate matrimonial valuation will stop delays by supplying your legal advisors and the judge with the essential information.

Divorce rates have seen a four-fold increase in the past forty years. That’s a rise from 2% to 8%. We appreciate that going through a divorce can be an emotional and traumatic experience. Generally, your assets have to be divided fairly and equally. In particular, the marital home can become a bone of contention.

All assets must be divided equally and fairly, including the matrimonial home or shared property and investment or commercial property. Surveyors usually carry out matrimonial valuations for solicitors handling the divorce or county/high courts if there is a dispute – and they can also stand as expert witnesses.

Surveyors are generally jointly appointed by the solicitors of each party. Their job is to present an independent valuation for and to the court. They can also carry out valuations for single parties to use in negotiations.

Valuations may be disputed. For example, one party may see no reason for another valuation if they already have one to hand. Or you may be the party insisting on another because you suspect your spouse has given a particular asset an unfair or unrealistic value.

All matrimonial property valuations must comply with rule 35 of the Court Procedure Rules (1998). By offering a tailored service at Winfields Surveyors, we get to know our clients closely and, in some cases, may have worked with them before in happier circumstances when they have been buying and selling homes. We know them and their property and can lend a sympathetic, knowledgeable ear to both parties.

A RICS (Royal Institution of Chartered Surveyors) matrimonial valuation can help you in divorce or separation proceedings. It involves a professional valuation of marital assets, such as property and land, in order to determine their market value.

Avoid Any Doubt Or Disagreement

This valuation can help ensure a fair and equitable division of assets between the spouses, as it provides an independent and unbiased assessment of the property’s value. This can be particularly important in cases where there is disagreement over the value of the assets or where one spouse may be attempting to conceal or undervalue assets to gain an unfair advantage in the divorce settlement.

Should You Wish To Buy The Other Person Out

A RICS matrimonial valuation can also be helpful in cases where one spouse wishes to buy out the other’s share of the marital home. By providing an accurate valuation of the property, the spouses can negotiate a fair buyout price that considers the property’s current market value.

Keeping It Fair Between Parties

Overall, a RICS matrimonial valuation provides an essential tool for couples going through a divorce or separation, helping to ensure a fair and equitable division of marital assets.

Typically, divorcing parties jointly appoint an RICS registered valuer to ensure impartiality. However, surveyors can also work for one party provided they remain completely independent and unbiased in their assessment.

The valuation report details the property’s market value, location, accommodation type, construction details, and tenure information. This comprehensive assessment provides all the essential information needed by legal advisors and the court.

By providing an independent, professional assessment from a qualified RICS registered valuer, both parties receive an unbiased market value. This transparency helps avoid disagreements over asset values and can prevent the need for court intervention.

Valuations can be disputed if one party suspects an asset has been given an unfair or unrealistic value. In such cases, another RICS valuation may be commissioned. All matrimonial valuations must comply with rule 35 of the Court Procedure Rules (1998).

Yes, depending on what you jointly own. While property is typically the main asset, you may also require specialist valuations for items such as antiques, artwork, businesses, or other valuable assets.

Yes, RICS registered surveyors can stand as expert witnesses in court proceedings if disputes arise regarding property valuations during divorce settlements.