Family Law Property Valuations
Sovereign Valuations is experienced in undertaking valuations for family law purposes. Family law valuations require a high level of due diligence and accuracy, noting that a small margin of error can render a significant loss to either party. Sovereign Valuations undertakes forensic data analysis and thorough, detailed reporting for all family law matters, reducing the risk of ongoing disputes and associated legal costs. As part of our engagement, our experts are available for conferences, mediation and court attendance, being familiar with the court hearing process.
Sovereign Valuations holds expertise in both real property and business valuations, with qualified experts including both Certified Practicing Valuers and Chartered Accountants.
Valuations undertaken for the Federal Circuit and Family Court of Australia are conducted in accordance with the Federal Circuit and Family Court of Australia (Family Law) Rules 2021 and the Expert Witness Code of Conduct. The Valuer’s duty is to provide independent expert evidence to the court and not to act as an advocate to either party.
In addition to complying with statutory requirements for expert evidence, Sovereign Valuations upholds the professional standards and codes of ethics set out by the Australian Property Institute (API) and the Royal Institute of Chartered Surveyors (RICS).
We understand that these periods are often stressful for the parties involved and we pledge our utmost discretion and understanding throughout our engagements.
FAQs
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An expert witness valuation is an independent opinion of property or business value
prepared by a qualified valuer for use in legal proceedings. The valuer may be called to give
evidence and be cross-examined on their report. The report must comply with the relevant
court's Expert Witness Code of Conduct.
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An expert witness valuer must hold relevant qualifications and experience that give them the specialised knowledge required to provide an expert valuation opinion. In practice, legal professionals often seek property valuations from Certified Practising Valuers (CPVs) and business valuations from Chartered Accountants (CAs). Sovereign Valuations have a number of staff experience in providing expert witness valuations, with our team including both qualified property and business valuation experts, including an Acting Commissioner of the NSW Land & Environment Court.
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The Expert Witness Code of Conduct sets out the obligations of expert witnesses in Australian legal proceedings, including the duty to provide independent opinions, to disclose the basis of those opinions, and to acknowledge the limitations of the expert’s knowledge. All Sovereign Valuations expert reports comply with the applicable code.
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Yes. Our senior directors are experienced in providing expert witness reports to the Supreme Court, including various cases where court attendance and cross-examination occurred. Our team are familiar with the court hearing process and our duties acting as an expert under the provisions of the Expert Witness Code of Conduct.
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Instructions should be provided in writing, typically through the engaging solicitor. Instructions should set out the property or business to be valued, the relevant valuation date(s), the purpose of the valuation, and any questions the expert is asked to address. We are accustomed to working within court-directed timelines.
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Yes. We regularly provide supplementary reports, joint expert reports (following expert conclaves), and responses to opposing expert reports in litigation matters.
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A joint expert conclave (also called an expert meeting) is a process in which the experts for each party meet — without the parties’ legal representatives — to identify areas of agreement and disagreement. The conclave produces a joint report for the court. Sovereign Valuations’ experts are experienced in this process.
FAQs
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A family law property valuation is an independent assessment of the value of real property
for use in matrimonial or de facto property settlement proceedings. It is used to establish the
asset pool available for division between the parties.
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A valuation is typically required when the parties cannot agree on the value of a property, or
when the court requires an independent assessment to determine the asset pool. Valuations
may be ordered by the Federal Circuit and Family Court of Australia or commissioned by the
parties jointly or individually.
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Yes. A single-expert valuation is often the most cost-effective and judicially preferred
approach. The court may appoint a single expert valuer, or the parties may agree on one.
Sovereign Valuations is regularly engaged as a single expert in family law matters.
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Family law valuation fees depend on property type, complexity and urgency. Residential
valuations typically range from A$800 to A$2,000 plus GST. Commercial and complex
matters are quoted individually. Sovereign Valuations provides fee quotes within one
business day.
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Yes. Both applicants and respondents are entitled to commission independent valuations.
The Court usually prefers a single expert valuer jointly instructed by both parties, but a
respondent can obtain their own valuation — either as a jointly-instructed single expert, as
an advisory valuation to review the other party's figure, or, with the Court's leave, as a
separate expert report.
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We value all property types that may form part of the matrimonial asset pool: residential
homes, investment properties, commercial and industrial property, development sites, rural
property, businesses, and SMSF-held assets.
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Yes. Retrospective valuations are sometimes required in family law to assess value at the
date of separation or cohabitation. We assess historical market evidence to provide a
defensible opinion as at the relevant date.
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Our valuers are bound by the Expert Witness Code of Conduct and the API Code of
Professional Conduct. When engaged as a single expert, we have no duty to either party —
our overriding duty is to the court. We review and disclose any potential conflicts of interest
before accepting an engagement.