Valuation – Matrimonial

MATRIMONIAL VALUATION

Divorce is never easy and if both parties can’t agree how to distribute their jointly owned assets, such as their home, a matrimonial valuation is the fairest and most accurate way of assessing its market value to help settle the dispute.

Trinity Rose Chartered Surveyors’ team of independent, RICS registered valuers are experienced in all areas of matrimonial property valuation and we carry out impartial valuations that help ease the process of dividing assets and which can minimise legal fees too.

Read more about our matrimonial property valuations and then contact us if you’d like to arrange a valuation for your property.

Impartial matrimonial valuations by compassionate RICS registered valuers

If you’re going through or are about to embark on divorce proceedings and you own property together that you can’t agree how to divide, a matrimonial property valuation can help you avoid the need to go to court or, if court proceedings are unavoidable, it will help a judge decide how to distribute your property assets fairly.

You should always appoint a RICS registered valuer surveyor to conduct an impartial ‘Red Book’ compliant valuation. Valuers can work for one or both parties, but they must remain impartial throughout.

Trinity Rose Chartered Surveyors carries out matrimonial property valuations that take account of your home’s condition, the type of accommodation and its location along with details about its construction and tenure, for example, if you have a second property that you let out.

If you need to talk to an impartial, independent RICS registered valuer about a matrimonial property valuation to help you resolve your property dispute in your divorce proceedings, please contact us.

  • Independent RICS registered valuers conducting ‘Red Book’ valuations for one or both parties in divorce proceedings
  • Support legal advisors and divorce judges with accurate, unbiased matrimonial valuations
  • An independent matrimonial valuation can help avoid court proceedings and save legal fees
  • Experienced matrimonial valuation surveyors who can value property with compassion and discretion

We offer Matrimonial Valuations in Hampshire and Surrey including Alton, Alresford, Farnham, Chandlers Ford, Bishops Waltham, Park Gate, SouthamptonWinchester Romsey, Lymington, Lyndhurst, Salisbury, Christchurch, BournemouthBasingstokePortsmouth, Poole, Parkstone, Brockenhurst, Ringwood, Verwood, Fordingbridge, The New Forest and Wimborne and the surrounding areas.

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What is a matrimonial valuation?

A matrimonial valuation is carried out by a RICS registered valuer and determines the value of property shared by a divorcing couple.

Why is a valuation needed during a divorce?

Divorcing couples may disagree on how to split their shared assets. An accurate valuation avoids disputes on property worth and/or will help a judge decide how to split this assets fairly.

Which assets are typically valued in a matrimonial valuation?

A RICS matrimonial valuation can determine the value of:

  • The family home
  • Other property owned jointly or individually

How is the value of the property determined?

A matrimonial house valuation is more in-depth than a market appraisal. You need an actual market value rather than a potential selling price. A matrimonial valuation takes into account:

  • Property size
  • Property condition
  • Changes in market value over the duration of the marriage
  • Planning and construction concerns
  • Location
  • The value of similar properties
  • Any environmental concerns

The valuation is carried in accordance with RICS ‘ Red Books’ standards.

What happens if we disagree on the value of assets?

If you cannot agree, you may apply to the court to make a final decision.

Can sentimental value be considered in the valuation?

A valuation is impartial and will not consider sentimental value. However, if you want to negotiate the sentimental value of property/items with your ex-partner, you may.

How does the valuation impact the division of assets in a divorce?

Obtaining an accurate financial valuation of assets can make it easier to divide your property in the case of divorce. For example, if one person keeps the family home, a valuation makes it easy to decide how much they must compensate the other person.

Do all assets need to be physically appraised?

No. If a divorcing couple can agree on the value of an asset then it may not need physical appraisal.

Is it necessary to hire a specialist valuer for matrimonial property?

For a reliable, accurate matrimonial valuation, you will be required to use a reputable, RICS Registered Valuer. At Trinity Rose, we have years of experience in this precise discipline and our team of RICS registered Valuers are on hand to support your through the process.

Are joint assets valued differently from individual assets?

This can become complicated but, as a rule of thumb, joint assets are everything acquired during the marriage or civil partnership and must be split. Examples may include:

  • The family home (even if it is in only one partner’s name)
  • Other property
  • Vehicles
  • Pensions
  • Savings
  • Stocks and financial investments
  • Businesses
  • Furniture
  • Other household items

 

Individual assets refer to distinct things owned by an individual and do not have to be shared, such as:

  • Assets owned before the marriage
  • Assets inherited/received as a gift during the marriage by only one partner
  • Property acquired and solely owned by one partner (other than the family home)

Can I challenge the valuation provided by my spouse?

The short answer is ‘yes’. The best course of action at the outset is to get an independent RICS matrimonial valuation. You can either get one each or share the matrimonial valuation cost.

If you still cannot agree, the courts may be required to make the final decision.  

How long does the matrimonial valuation process usually take?

The inspection of the property required for a matrimonial property valuation may take approximately 1 hour. You should receive the report back within 7-10 days, depending on the complexity of the property assets being considered.

Are there tax implications associated with matrimonial valuation?

You do not usually have to pay Capital Gains Tax on property you give to your partner before a divorce is finalised. If you lived together within the tax year property is transferred, you should not have to pay Capital Gains Tax.

However, if the property is transferred to one of you after a divorce, tax must be paid as it is disposal of an asset. The amount is based on an accurate valuation such as a matrimonial valuation. 

What role does the valuation play in reaching a fair settlement?

The only way to know exactly what a property is worth, and hence how much each partner is entitled to, is through an unbiased, professional matrimonial house valuation. This is also the information a court would need should negotiations reach that level.

What happens if a valuation is disputed?

If a divorcing couple disagree, the matter will likely need to be settled in court.

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