As part of our valuation series, we’re going through the different types of valuations and explaining what they are and why you might need one.
For a general guide on property valuations, check out our latest blog post here.
What is a matrimonial valuation?
If you share a home with a long-term partner and the relationship comes to an end, an independent valuation of the shared home, carried out by a professional, is recommended.
This is something that can be commissioned by one person, if you continue to have a civil relationship with your partner, or you can both seek your own valuations.
Why might I need one?
In the event of separation, it can be tricky to decide who takes ownership of shared assets – the biggest asset that a couple will usually own is their marital home (or other properties that they own together). This is where a matrimonial valuation helps.
A matrimonial valuation can help to protect your interests and prevent disputes, as long as the valuation is carried out by a member of the RICS (Royal Institution of Chartered Surveyors), as the report should be accurate and prepared to a high standard. If it isn’t, this can put you at a disadvantage during negotiations.
If you think that you need a matrimonial valuation, you can get in touch with us here and our friendly sales team will be more than happy to assist you and answer any questions you may have.