Introduction to Charities Act Report
The Charities Act 2011 requires that the trustees of registered charities obtain a written report if they are planning to dispose of the property. The report must be provided by a qualified surveyor and applies to land, property and leases over seven years.
What is a Charities Act Valuation Report?
Charities Act report slightly differs from a standard “Red Book” report and address a number of points including:
Who can undertake a Charities Act Valuation?
Based on section 117(2)(b) of the Charities Act 2011, charity trustees must, before entering into an agreement for the sale, or other disposition, of the land obtain and consider a written report from a qualified surveyor instructed by the trustees and acting exclusively for the charity. A qualified surveyor is a person who -
It is the responsibility of trustees to appoint a suitably qualified surveyor who will act independently and in their best interest.
When to obtain a Charities Act Report?
It is advised that report is obtained prior to the exchange of contracts but obtaining a report prior to marketing is highly recommended. This is because one of the pointes addressed in the report cover appropriate disposal method.
At Copping Joyce Surveyors we offer an independent, strategic and well experienced service to charity clients.
Please speak to one of our Valuations team members to find out more