Was the house overvalued for a reason? It seems the Trust house was overvalued at £650,000, putting it in trust didn’t need a surveyor’s Valuation,
She and her ex-husband alternate living at the property and look after their two teenage sons under a ‘nesting arrangement’, she said.
Stephanie Churchill, founder of Churchill Taxation, said when a property is put partially or wholly into a trust, there is often no need for a formal surveyor’s valuation.
But if the share is sold, Ms Churchill said she would advise on a ‘robust’ surveyor valuation.
‘If she has taken more money out of the house than she should have done, that could have tax implications,’ Ms Churchill added.