Divorce Valuation
- Home
- Divorce Valuation
What is Matrimonial Valuation?
To ascertain a fair and unbiased valuation of the property assets being split, matrimonial valuations are crucial when resolving a divorce. In order to ensure that all parties obtain a just and equitable settlement, divorce assessments are required and a crucial tool.
A marital valuation, which is a property appraisal true to the market and gives both parties a comprehensive idea of the property’s value, is performed by a chartered surveyor authorised by RICS, CIOB or RPSA. It is an essential step in the divorce process when the value of jointly owned property sometimes becomes disputed; as a result, a marital valuation will make the process more equitable.
The value of the marital residence and any other jointly and separately owned property assets are detailed in the surveyor’s complete appraisal.
Standards for Surveyors of Matrimonial Valuation
The valuer needs to be an impartial expert witness in order for the valuation to be accepted in court. For the valuation report to be utilised as a successful negotiation tool and for the courts to accept it as evidence, the valuer’s objectivity is essential.
A registered valuer who represents both parties is frequently hired in divorce disputes to ascertain an independent market value, which serves as the foundation for monetary settlements. Their knowledge and commitment to the RICS “Red Book” criteria are crucial, especially when a substantial amount of the marital assets under examination are property assets.
What is included in a Divorce Settlement?
This will cover the following aspects of real estate:
- market value
- location
- accommodation type
- construction
Benefits of a Matrimonial Home Valuation Report
You can obtain the following benefits by obtaining a matrimonial property valuation:
- impartial assessment: it provides an accurate and unbiased market valuation of the marital residence, ensuring justice for both parties participating in the divorce procedures. This implies that the value would be acknowledged and upheld in a court of law.
- standards: the valuation complies with the “Red Book”;
- promotes resolution: the report’s objective valuation may expedite negotiations and provide a foundation for a fair settlement, reducing the likelihood of conflict and the length of time it takes to resolve it.
- It establishes a beginning point: it specifies the first point of reference for the property’s worth on the appraisal date, which is crucial for any financial distribution.
- Areas of expertise: you may anticipate a professional assessment founded on in-depth knowledge and experience in the field because the a valuation is completed by an expert who is a chartered surveyor under RICS.
- Court proceedings: providing expert testimony and following the civil procedure rules (CPR)
- Efficiency: by reaching a fair agreement on valuations and allocating assets appropriately, a professional valuation may help with the divorce process.
- Predicting the future: by accurately assessing a property’s worth, which might be crucial for mortgages or when deciding whether to sell later after a divorce, this helps with financial planning.
- Transparency: to assist clients and solicitors in understanding the actual worth of their real estate holdings
Valuation for Divorce (Matrimonial)
A Divorce Settlement Valuation is a service that will enable you to split them appropriately in the divorce settlement. It guarantees that no matter what the terms of the settlement are, the equity is divided proportionately.
Is a Matrimonial Valuation required for Canterbury real estate?
In order to provide a just settlement during divorce negotiations, divorce valuations should not be disregarded. These appraisals in accordance with the “Red Book” valuations are the result of the RICS professional standards. These assessments are characterised by a market value that ought to accurately represent the property’s actual worth on the valuation date.
When it comes to property, such as the marital residence, stock, and other assets, RICS Chartered Surveyors are frequently hired by both parties in a divorce or just one client.
Qualified chartered surveyors, as opposed to estate agents, offer unbiased assessments that are created with the goal of determining how to divide assets with the least amount of disagreement.
Contact Us
Divorces are rarely straightforward processes. They may be drawn out, costly, and contentious when spouses can not agree on how to divide their joint assets. You will need a marital valuation for divorce settlement reasons from an independent and unbiased RICS registered valuer if you are unable to decide who will get what or what will happen to your house.
