Matrimonial Valuations: A Guide

A matrimonial valuation, also known as a matrimonial property valuation or a divorce property appraisal, is a process used during divorce proceedings to determine the value of marital assets, typically residentials or commercial properties which can include both the matrimonial home as well as investment propertes. This valuation is essential for equitable distribution of assets between spouses as part of the divorce settlement.

At Aston Knowles we are proud to be RICS accredited, meaning that you can be confident in the knowledge that our property valuations are held to a globally recognised standard. Using a RICS valuer to carry out a matrimonial market valuation of your home ensures professionalism, impartiality, legal compliance, accuracy, reliability, and peace of mind throughout the valuation process, which are essential considerations in the context of divorce proceedings.

Here’s what typically happens during a matrimonial valuation:

1. Engagement of an Appraiser: The process usually begins with one or both spouses hiring a qualified and impartial valuer. This appraiser should have experience in valuing financial assets, and should be knowledgeable about local housing market conditions. It is normal practise to appointment a Single Joint Expert by both parties involved in the dispute as it saves the time, cost and hassle of everyone appointing their own expert.
2. Property Inspection: The appraiser will visit the property or properties being assessed. During this inspection, they will examine the physical condition of the property, its size, layout, and any unique features that could affect its value. They may also take photographs and measurements.
3. Research and Data Collection: The appraiser will gather data on comparable properties (comps) in the area. This involves researching recent sales of similar properties in the neighbourhood to determine the current market value. They may also consider factors like property age, condition, location, and any improvements made by either spouse.
4. Analysis and Calculation: Using the collected data and their professional judgment, your appraiser will calculate an estimated fair market value for the property or assets in question. They will consider all relevant factors and the most appropriate method of valuation to arrive at a fair and accurate valuation.
5. Documentation: The appraiser will prepare a comprehensive appraisal report that includes all relevant details, such as property descriptions, comparable sales data, valuation methods used, and the final estimated value of the property. This report serves as a crucial piece of evidence during divorce proceedings. Most importantly, the report will be CPR compliant with a declaration of truth as required by the court. RICS valuations are widely recognized and accepted by courts and legal authorities. Having a valuation conducted by a RICS valuer can help streamline the legal process, as the valuation report carries significant credibility and is less likely to be contested.
6. Expert Testimony: In some cases, the appraiser may be called to testify in court as an expert witness to defend their appraisal methods and valuation.
7. Negotiation or Court Proceedings: Once the valuation is complete, the spouses, along with their respective attorneys, will use this information as part of the divorce negotiations. If they cannot agree on the division of assets, the court may make a final determination based on the appraiser’s valuation.

It’s important to note that the valuation process can vary depending the complexity of the case, and the specific assets involved. Additionally, both parties in the divorce may choose to hire their own appraisers to provide independent valuations, and these valuations may not always align. (This is why a Single joint expert is preferred to avoid any conflict once the valuation has been confirmed).

Matrimonial valuations are a critical part of divorce proceedings, as they help ensure that marital assets are fairly and equitably distributed between spouses. It’s essential to work with qualified professionals, such as experienced such as a RICS chartered surveyor to ensure accurate and reliable valuations

To discuss your matrimonial valuation requirements, contact enquiries@astonknowles.com

for a quotation or call our courteous and professional team on 0121 362 7878

^{Image by aymane jdidi from Pixabay}