Key points
- Probate commonly uses the date of death as the relevant valuation date.
- Historic comparable transactions should be interpreted in the market conditions of that period.
- Later alterations may need to be separated from the assumed historic condition.
- A professional valuation gives a valuation opinion; it does not determine tax liability or beneficial ownership.
Why is the valuation date so important?
Market Value changes over time. A retrospective report therefore analyses evidence relevant to the agreed historic date rather than simply stating what the property might sell for today.
For probate, GOV.UK guidance explains that estate assets are valued at the date the person died. Other retrospective instructions may use a different agreed date depending on the purpose.
What historic evidence can be used?
The valuer may consider completed sales around the relevant date, Land Registry information, historic photographs, plans, floor areas, previous reports and information describing the property condition and accommodation at that time.
Later evidence can sometimes help explain what existed previously, but it must be used carefully so later improvements or market changes are not mistaken for historic value.
What a valuation opinion does - and does not - decide
A valuation report can provide an opinion of Market Value for the agreed purpose and date. It does not decide ownership, inheritance entitlement, tax treatment, contractual rights or how value should be divided between parties. Those are separate legal or tax questions.
Where the valuation is for a tax, court or scheme-specific purpose, the exact instruction and applicable requirements should be confirmed before the valuation is accepted.
Relevant SurveyAll service
Probate & Retrospective Valuation
SurveyAll provides formal residential valuations as at a specified historic date where the scope and evidence support the instruction.
Common questions
Questions people often ask
Is a probate valuation the current value of the property?
No. Probate commonly requires the property value at the date of death, even if the report is prepared later.
Can renovations after the valuation date be included?
Later works should not simply be treated as if they existed at the historic valuation date. The adopted historic condition and accommodation need to be established from evidence.
Does the valuer calculate Inheritance Tax?
No. The valuer provides a property valuation opinion. Tax calculations and legal reporting obligations should be addressed by the appropriate tax or legal adviser.
Sources and review
Recognised sources used for this guidance
These sources support the general guidance above. They do not replace property-specific inspection, current legal advice or specialist testing where those are needed.