All assets have to be divided fairly, including not only the matrimonial home or shared properties but also other investments. Surveyors normally carry out matrimonial valuations for solicitors handling the divorce or county/high courts if there is a dispute – and they can also stand as expert witnesses.
The valuation should be carried out by an RICS Registered Valuer and at Graham Fitt Surveyors only Accredited experienced Valuers will undertake this type of instruction.
Surveyors are generally jointly appointed by the solicitors of each party. Their job is to present an independent valuation for and to the court. They can also carry out valuations for single parties to use in negotiations.
All matrimonial property valuations have to comply with rule 35 of the Court Procedure Rules (1998).
A Valuation of the family home is essential, because it is usually the biggest asset you have and you will want to know how much your flat or house is worth.
The Chartered Surveyor should also be an Accredited Valuer; they are usually appointed either by each party’s Solicitor, or ideally as a Joint Expert Witness to prepare a Valuation Report.
Here at Graham Fitt Surveyors, we believe the preferred way to proceed would be for both parties to formally instruct us as the Joint Expert Witness by one of the solicitors to prepare a Valuation report. This report will be relied upon in court proceedings usually held in the Central Family Court, it will be governed by Part 25 of the Family Procedure Rules (FDR).
The reason we believe you should instruct us jointly, is because it will be quicker and cheaper for you. Each party will accept that the figure in this report (whatever it may be) is agreed. This independent report will be relied upon in court by the judge.
The report will be unbiased, a true opinion of the value of your home. The accredited Valuer will be experienced in carrying out residential valuations in the area over a number of years.