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Charities Act Valuations

Charities are required to obtain valuation advice in accordance with the Charities Act, 1993 which consolidates a number of previous statutes.

Chartered Surveyors are required to provide Charities with appropriate advice where:

  • The charity is contemplating disposing of an asset
  • The charity is contemplating acquisition of an asset
  • The charity is contemplating entering into leases or other agreements which will have a material effect upon the market value of the property.

Where Charities are considering disposal of land or property they need to consider the Charities 'Qualified Surveyors Reports' Regulations, 1992 and the Charities Commission Guidance Note 'CC28 - disposing of charity land'.

The Commission require the charity to consider the following before proceeding with a disposal. For example:

  • Do the Trustees have a power to dispose of the land?
  • Would the disposal be in the best interests of the charity?
  • Do the Trustees own the title to the land?
  • Is there anything in the governing document that prohibits the disposal?
  • Does the Charity need authority from the Commission or the Court?

 

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