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valuation on property for probate purposes

newtogame · 2010-03-29 12:59:04

My father died last year and my sister and her husband are executors of his will.The valuations by 2 valuers are quite different and the other family members think we should get a 3rd valuation.The property is quite unique and would be difficult to value.Our worry is that if it acheives a higher price we will be liable to…

29-03-2010 12:59pm

#1

newtogame

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Join Date: January 2008

Posts: 29

My father died last year and my sister and her husband are executors of his will.The valuations by 2 valuers are quite different and the other family members think we should get a 3rd valuation.The property is quite unique and would be difficult to value.Our worry is that if it acheives a higher price we will be liable to CGT.As there are squabbles communication is non existent between executors and rest of family.

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Comments

#2 30-03-2010 1:01pm

dlambirl

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Posts: 1871

Valuers sometimes value probate properties lower - for tax purposes but this can cause troubles later on if the property is being sold or if there are any troubles with the will.

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