Divorce related question for conveyancers or anyone who knows anything about the land registry and property titles.

[confused5]

I posted this in chat but no one has answered and it is divorce related - so have re-posted it here:

How do the land registry establish the value of your property?

Have just been through a divorce - the negotiating value for the marital home was set at a certain amount based on the average of 3 appraisals.

I know that estate agents over value things, but the value that the land registry has attributed to the property on the title (which I have just received) is much much lower.

Have looked at the land registry site, and they do say that the value they give a property is sometimes different to the actual amount a property would sell for, for various reasons.

Can anyone confirm this?

Am panicking that I have been massively shafted in the divorce!!!! In terms of the deal ex and I made.

I thought the Land registry value just records historic prices paid rather than any attempt at a current valuation?

It's usually taken from the transfer deed st the time it was purchased.

So it will say 'the amount paid for the property on was £...'

The Land Reg itself has no way back f valuing properties.

That’s why I am confused - as part of the divorce settlement, I paid off the mortgage and gave ex a lump sum (another one is due to him next year), and the house was transferred to me. He kept other things amounting to a similar value - though no one really knows for sure.

So there was an exchange of money for the property, but not equivalent to its current actual approximate value, and not at all similar to the “value” the land registry has given it.

It does say value on the title rather than price.

Who dealt with the paperwork for changing the ownership at the Land Registry? They may be able to help you here.

A conveyancing solicitor at my divorce solicitor’s firm.

I have asked her by email but she hasn’t got back to me yet and I am panicking. I am not even sure that she is going to answer as our transaction is over and maybe I have to pay more for her to answer additional questions (though surely not as she has only just sent me the title document and you would think I might have some questions) ?

The value relates to the divorce settlement not the sale price. If you sell it may be queried by the buyers solicitor or lender. But nothing to worry about.

The Land Registry would only need a figure in these circumstances in order to establish the fees due to register the Transfer so if there is a value stated entry it will probably be the value the lodging conveyancer supplied. Land Registry wouldn't generally query the value unless it seemed way out.

If you sell it may be queried by the buyers solicitor or lender. But nothing to worry about.

Yes this is what I am worried about. How will I be able to prove that the stated figure relates to a divorce settlement (and even then I don’t understand the calculation the solicitor has made), rather than the actual current value?

The value stated entry should only be on there if It reflects the value of the property as a whole. Land Registry fees can be a bit complex when it comes to divorce and transfers of shares in a property and conveyancers often misunderstand them. They may have given an incorrect figure which is then reflected in the register. Is it significantly different to the real value? If so, ask for it to be amended - worst case scenario is that it falls in the higher fee bracket and you should have paid a little more to register it.

Yes it is quite different - though our appraisals were just appraisals of course. Even taking that into account, the difference is significant.

However, since our actual valuation is based on appraisals - the average of 3 estate agent appraisals - how can we in turn be sure of the value that we give the property?

Is my conveyancer going to think I am a massive pain for asking her to do this, and/or charge me for more of her time even though it may be her mistake?

You could always bypass her and go straight to the Registry. Send them a letter explaining the issue, include the appraisals. Was there a price paid entry on the register prior to your new transfer? If you were on the register previously (not sure if you were from your posts) ask them to re-instate that price paid. That is often done in any case on transfers of shares.

No I don’t think there was - it was bought by my husband before 2000, which is when I think values started to be included.

My name was never on it as my ex point blank refused to have the property in both our names.

Are the Land Registry likely to be receptive if I write to them?

Maybe I could ask them to remove the value completely?

If he owned it outright before, that's more straightforward from a Land Registry point of view then. The fees are simply based on the value your conveyancer provided. I'd be inclined to go back to her and query it.

Having said that, though, if you don't want to, Land Registry are pretty helpful and may update the entry if you explain and provide the appraisals. If they fob you off, you could always contact her afterwards.

Thanks so much @starlingsintheslipstream for all your help. Will get on to the Land Registry on Monday and take it from there.

Thanks to everyone else too .