JRB Surveyors

Valuations for Other Purposes

Domestic Services

Matrimonial Valuations

In these days of high divorce and separation rates, it is often necessary for the matrimonial home or shared property to be valued to decide upon how the assets will be shared. Many matrimonial valuations are carried out by a qualified surveyor/valuer appointed by both parties in the divorce with an independent valuation report provided for and to the Court in accordance with the “Woolf Report”.

Our surveyors are able to undertake these matrimonial valuations and provide reports compliant with Rule 35 of the Civil Procedure Rule (CPR) 199. In most cases we are jointly appointed by instructing solicitors (on behalf of each party) to provide an independent valuation report for the Courts, This is known as a Single Joint Expert (SJE). The need to act impartiality is paramount. For example, it is not acceptable for the SJE to meet one party without either the other party being present or their explicit agreement. It is not acceptable for the SJE to provide advice to the legal team of any party. In addition if a dispute arises the SJE is liable to be cross-examined by all parties in court- which can make for an uncomfortable time in the witness box!

We are able to provide matrimonial valuation reports in respect of the matrimonial home and/or other shared residential, investment or commercial property.

Inheritance Tax Valuations often referred to as Probate Valuation

It is often said that there are two certainties in life: death and taxes. Unfortunately, the first often brings the second following closely behind.

One of the first responsibilities of the executor is to carry out a valuation of the estate as of the date of death. This is important for two reasons: it will firstly enable the executor to ascertain whether or not there is sufficient value in the estate to cover all of the liabilities and bequests left; and it will secondly ensure that it is known how much (if any) IHT will be payable. It should also be noted that, in most circumstances, the executor will not be permitted to take control of the estate (that is, they will not be given a Grant of Probate) until at least some of the IHT which is owed has been paid. As a result, the valuation of the estate is an essential first step not only for tax reasons, but also for the continuing discharge of the executor's duties.

We understand this is a difficult time and the valuer will act in a professional and understanding manner to accommodate the needs of those left behind.

 

Durham Office

JRB Chartered Surveyors
Abbey Business Centre
Abbey Road
Durham
DH1 5JZ

Email Us

info@jrbsurveyors.co.uk

Newcastle Office

The Estates Office
Hadrian Works
Wellington Road
Gateshead
NE11 9JL

Telephone

(0191) 3849399