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JGM
JGM, Solicitor
Category: Scots Law
Satisfied Customers: 11557
Experience:  30 years as a practising solicitor.
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I am currently going through a divorce and am in the

Resolved Question:

Hello,
I am currently going through a divorce and am in the process of supplying asset values to my wife's solicitor. The marital home is in my sole name and my wife has left the home and as in living with a new partner. I have had the home valued and have supplied this to my wife's solicitor who has stated "You will note that in accordance with the Law of Scotland there are two different approaches to valuing a property depending on whether it is owned in the party's sole name or alternatively in joint names." I have been unable to find any references to these approaches and would appreciate it if someone could explain these approaches to me.
Regards
JR
Submitted: 1 year ago.
Category: Scots Law
Expert:  JGM replied 1 year ago.
If the house is in joint names then a current value would be sought as both parties have an interest in the current value. If the house is in one or other name then the value would be taken at the date of separation and the non owner would not be entitled to a share of any increase in value following the separation. Happy to discuss further. I hope that helps. Please leave a positive rating so that I am credited for my time.
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Customer: replied 1 year ago.
Hello,
Thank you for your quick response. I have another question with regard to my Additional State Pension Valuation for divorce purposes via the BR20 form - I started up a personal pension shortly before my marriage and transferred my employment pension into this and at the same time contracted out of SERPS. I am presuming that the valuation therefore relates to NI contributions before date of marriage. If this is the case can this valuation sum be excluded from a financial settlement?