Yorkshire based independent residential & commercial chartered surveyors.

House Valuations for Probate, Chartered Surveyors in Yorkshire

A probate valuation, as conducted by a surveyor, is a valuation of property made for inheritance tax purposes as at the date of death.

The immediate period that follows the death of a relative or friend can, obviously, be extremely difficult. Thinking pragmatically can be hard, but is nonetheless, necessary.

The deceased’s affairs should be resolved as quickly as possible in order for all financial beneficiaries to receive their intended provision. A probate valuation is one of the first steps of this process.

Probate Valuations

The purpose of a probate valuation is simple. It is to ascertain the valuation of the estate left behind by the deceased. This serves two purposes:

  • Enables the executor to deem whether there is sufficient value in the estate to cover the liabilities left by the departed
  • It allows it to be known how much (if any) inheritance tax should be paid

The Role of a Building Surveyor in Probate Valuations

Most people’s most valuable asset is their property, which is why surveyors play such an important role in the probate valuation process. Surveyors are needed to conduct thorough and impartial valuations of the deceased’s property.

There are other factors to consider regarding the deceased’s property. For example, are they the sole owner of the building, or is it a joint-share.

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