What is Matrimonial Valuation?

Divorce appraisals are important when settling a divorce, to determine a fair and impartial value of the property assets being divided. Divorce appraisals are mandatory and a very important tool in making sure all parties receive a fair and equal settlement.

An RICS accredited Chartered Surveyor carries out a matrimonial valuation, which is a property valuation accurate to the market whilst providing both parties a clear understanding of the value of the property. It is a crucial part of divorce proceedings where the importance of shared assets often becomes contentious and consequently, a matrimonial valuation, will make it a fairer process.

The valuation produced by the surveyor is a comprehensive document that will set out the value of the marital home and any other property assets that are jointly and individually owned.

Criteria for Matrimonial Valuation Surveyor

For the valuation to gain acceptance in the legal process, the valuer must be an independent expert witness. The neutrality of the valuer is vital for the courts to accept the valuation report as evidence and for the valuation report to be used as an effective negotiating facility.

In divorce cases, it is common to engage the services of a registered valuer who represents both parties, to determine an independent market value, which is the basis by which financial settlements are agreed. Their expertise, coupled with their adherence to RICS ‘red book’ standards, is essential, particularly when property assets make up a significate portion of the marital assets being reviewed.

What does a Divorce Settlement include?

In respect of property, this will include:

market value
locality
type of accommodation
construction

Contact

Divorces are hardly uncomplicated procedures. They can be long, expensive and acrimonious when couples can’t concur on how they should distribute the assets they co-own. If you can’t determine the fate of your home or who gets what, you’re going to have to have a matrimonial valuation – an appraisal for divorce settlement purposes – from an RICS registered valuer who is both impartial and independent.

Matrimonial House Valuation Report Benefits

Through the acquisition of a matrimonial property valuation, you can receive the following:

impartial assessment: it ensures fairness for both parties involved in the divorce proceedings by providing an unbiased and accurate market valuation of the marital home
standards: the “Red Book” is complied with in the valuation. This means that the valuation would be recognised and held up in front of a court of law
facilitates resolution: the unbiased assessment in the report can streamline discussions and serve as a basis for a just resolution, curtailing possible disagreement and dispute duration
creates a starting point: it defines the initial point of reference for the value of the property at the date of appraisal which is of great importance to any financial distribution
areas of specialisation: the appraisal is done by an expert who is a chartered surveyor under RICS, so you can expect a professional valuation that is based on deep knowledge and experience in the industry
legal proceedings: adherence to the civil procedure rules (CPR) and acting as expert witness
transparency: to help solicitors and clients better understand the true value of their property assets
efficiency: a good valuation can assist in the divorce proceedings by agreeing on the values fairly and dividing assets accordingly
foreseeing the future: helps to plan finances for the future by determining the accurate value of a property, which can be essential for mortgages or when making decisions about selling later after the divorce

Do I need a Matrimonial Valuations for London Property?

Divorce valuations should not be ignored so as to guarantee a fair settlement in divorce consultations. The RICS professional standards are culpable for these valuations in conformity to the “Red Book” valuations. These valuations are defined as a market value which must reflect the true value of the property at the valuation date. This valuation has variations in all matters due to a tenancy within purpose; matrimonial purposes is for a solicitor and a client to equate the lateral distribution of joint property assets.

RICS Chartered Surveyors are often retained by both parties in a divorce or exclusively for one client in respect of property including the marital home, shares and other interests.

As opposed to estate agents, Chartered Surveyors who are qualified provide impartial valuations that are prepared with the intention of deciding how to share out assets with minimal dispute.