Probate and Estate, Date of Death

Value as at the date of death

Not today's value. The figure the estate needs is what the property was worth on the day the person died, which may be years ago. That is a retrospective valuation, built from the notified rates in force then and registered transactions in the locality from that period.

Why two countries often need two numbers

This is the part that surprises families. Several countries give you a fresh cost basis equal to the market value at the date of death. India does not. Your Indian cost base remains the deceased's original purchase price, or the 1 April 2001 value if they bought before that.

So the same house can carry a date of death value for the estate filing abroad and a completely different cost figure for the eventual Indian capital gains computation. Both correct, under their own law. Families regularly need both, and doing them together costs less than doing them a year apart.

Where the report goes

• Indian probate or succession proceedings, where court fees are often calculated on the value of the estate.
• Estate filings abroad, including United Kingdom inheritance tax where HMRC asks for professional valuations to be enclosed, with photographs and the exchange rate used at the date of death.
• Establishing the cost base for a beneficiary in Canada, the United States or Australia.
• Dividing an estate between beneficiaries fairly.

Documents

• Death certificate, which fixes the valuation date.
• The deceased's purchase deed, where it exists.
• Will, probate grant, or succession certificate.
• Mutation and property tax records.

Currency and format

Reports go out in rupees with a conversion to your currency, stating the exchange rate, its source and the date it applies to. For an estate filing that date must be the date of death, not the date of the report, and getting that detail right avoids a query later.

Executors working from abroad

You do not need to travel. Our engineer inspects, photographs with date and location recorded, and we deal with whoever holds the keys. Where a property has been empty or let since the death, we note its condition then and now, because the two may differ and the estate is concerned with the earlier one.

What you get

A signed report from a government approved valuer, based on a real inspection, with the workings shown so the person reading it can follow how the figure was reached. Our registration number is printed on it. If anyone questions it later, the evidence is already in the file.

• An inspection that actually happened. Our engineer stands at the property. Every photograph carries the date, the time and the exact position.
• Comparable evidence, named. Real sales from the relevant area and the relevant period, identified so anyone can check them.
• Method stated openly. Which approach we used and why, with the adjustments set out rather than buried.
• The right date. A valuation is always as at a date. Get the date wrong and the number is useless even if the work is perfect.
• Currency where you need it. Rupees for the Indian side, converted for your side, with the exchange rate and its source stated.

How long it takes

Normally 48 to 72 hours from the site visit, once we have the basic papers. If it is urgent, tell us and we will treat it that way. For anything tied to a sale, start before you sign the agreement rather than after, because some of the biggest savings are only available in advance.

What it costs

It depends on the property type, its size and how far our engineer has to travel. Message us with the basic details and you get a firm figure before any work starts. No surprises later, and five percent off your first report.

What if the papers are missing

Very common, and usually not a problem. A deed from 1974 may simply not exist in the family any more. Records at the sub registrar office, property tax records and the notified rates for the area can normally fill the gap. Tell us what you do have and we will tell you straight away whether it is workable.

Questions people ask

Which date is the property valued at?

The date of death, not today. That is a retrospective valuation built from the notified rates and recorded transactions of that period.

Why might we need two valuations?

Several countries give a fresh cost base equal to value at death. India keeps the deceased's original cost or the 2001 value. Both figures are correct under their own law.

Can the executor do this from abroad?

Yes. Our engineer inspects and photographs the property with the date and location recorded. You never need to travel.