Probate Property Valuation

When someone passes away and their estate includes real property, an independent valuation is typically required for multiple purposes: filing for probate or letters of administration, calculating capital gains tax (cost base), applying for a transfer duty exemption, and dividing assets fairly among beneficiaries.

Probate office requirements: The NSW Supreme Court Probate Office requires that real estate assets in a deceased estate be listed at their market value in the inventory of assets. While a formal valuation by a Certified Practising Valuer is not always mandated, it provides the defensible, objective evidence that protects executors and administrators from personal liability.

Date-of-death valuation: The critical date for a deceased estate property valuation is the date of death — not the date the estate is administered or the property is eventually sold. Our valuers research historical sales evidence from the relevant period to accurately establish what the property was worth on that specific date.

Multiple beneficiaries: Where an estate is to be divided among multiple beneficiaries, some of whom wish to retain the property and others who want to receive its cash value, an independent valuation provides the neutral reference point needed for fair and agreed distributions.

Executor protection: Executors and administrators who distribute estate assets without obtaining an independent valuation risk personal liability if the distribution is later challenged. Our valuation provides documented, professional evidence that assets were distributed at fair market value.

We handle deceased estate and probate valuations throughout Sydney with sensitivity and professionalism, understanding that clients are often dealing with a difficult time alongside the practical requirements of estate administration.