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Homing in on the recession

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04 September 2009 / Thomas Duggins
Issue: 7383 / Categories: Features , Family
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Property prices are affecting FDR payouts, Thomas Duggins finds

The former matrimonial home is often a couple’s most valuable asset and will form the core of negotiations surrounding the division of marital capital. After the boom years, the recent turmoil in the housing market presents new obstacles when dealing with the matrimonial home in settlement negotiations.

Valuation

The value of the former matrimonial home must be established before negotiations can begin on whether it is to be retained by one party or sold and the proceeds divided. Even if the property is to be retained by one spouse, the courts require an appraisal of value so that an assessment can be made as to the fairness of the financial settlement (H v H [2008] EWHC 935 (Fam), [2008] All ER (D) 415 (Apr)).

Form E requires the parties to provide a valuation obtained in the last six months, or their own “realistic estimate of the current market value”. It is sensible to invite three local agents to view the property and provide

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