Matrimonial House Valuation

Matrimonial House Valuation: What You Need to Know

If you are getting divorced or dissolving a civil partnership and share a matrimonial home, one of the most important financial decisions you may face is what happens to the property. A matrimonial house valuation will give you a true and impartial view of the true value of the property to help you with this decision.

 

A home nearly always has a special place in a family and is a major financial asset. As such, though it is inevitably a sensitive time, the family home is often central to a divorce settlement.

 

What actually happens to the house depends on the couple. In some cases, one party will buy their partner’s share. In others, the house will be sold and the proceeds will be divided between the parties involved.  

 

In all cases, you will need to obtain a property valuation. A matrimonial valuation will determine the market value of the house, which will be used in court proceedings to ensure assets are distributed in accordance with the law.

Valuation of Foreign Assets

It’s not uncommon for a couple who are divorcing to have property in another country, such as a holiday home in the South of France.

 

From a legal perspective, any assets abroad will be considered in a divorce settlement in much the same way as any other asset.

 

For houses and buildings, it will be necessary to obtain an independent valuation from a suitably qualified expert in that country, such as a RICS (Royal Institution of Chartered Surveyors) chartered surveyor that operates in the region.

 

Once a market valuation has been obtained, the foreign asset will be considered under the same legal principles that the determine the division of all other assets.

Who Can Give You an Accurate Matrimonial House Valuation?

In most cases, divorcees jointly hire a RICS registered valuer or chartered surveyor who will proceed to produce a matrimonial valuation report. Valuers and surveyors can also work for a single party, provided they give an impartial view.

 

A matrimonial valuation report will be a comprehensive report laying out clearly and without bias the value of the residential property. This is why, when dealing with overseas asset valuations, it is crucial to hire a chartered surveyor who operates in the country, as local knowledge of the housing market will ensure a true property valuation is given.

 

RICS registered chartered surveyors provide a matrimonial valuation service on behalf of either party to make absolutely sure an impartial value of the property is established through professional judgement and knowledge of the current market.

Benefits of a Matrimonial Property Valuation

By obtaining a matrimonial valuation you can:

  • Prevent costly legal disputes
  • Receive what’s rightfully yours
  • Ensure all court proceedings go as smoothly as possible
  • Get a true value of the property without bias

These are all important considerations during a divorce – which can become drawn-out, complicated, and increasingly costly when parties cannot decide how to distribute their shared ownership property.

 

Matrimonial valuations ensure your property is valued accurately, and a robust report is ready for legal advisors and the judge.

Matrimonial Valuation – South of France RICS Chartered Surveyor Charles Mackintosh

If you need a matrimonial house valuation for a property in the South of France, RICS chartered surveyor Charles Mackintosh can value your property at a time that suits you.

 

With over 30 years’ experience living and operating in the region, Charles provides a trusted and compassionate service, giving English language advice for overseas property buyers and owners. Get in touch today for more information.