Appraisals for Estate Administration in London, Ontario
When a property owner passes away, the estate trustee or executor is typically required to establish the fair market value of any real estate held by the deceased. This value is needed for the deceased's final income tax return, for probate purposes, and — where the property is being distributed or sold — to establish the adjusted cost base for beneficiaries.
The Canada Revenue Agency (CRA) requires that estate property valuations be prepared at fair market value as of the date of death (or an alternative valuation date in specific circumstances). A formal appraisal from an AACI-designated appraiser provides the documentation required to support these figures in a CRA review or audit.
Metrix Realty Group serves estate lawyers, notaries, trust companies, and executors across London, Middlesex County, and Southwestern Ontario. Our AACI-designated appraisers provide retrospective valuations dated to any historical effective date.
Estate Appraisal Services
Date-of-Death Valuations
Market value opinions as of the date the property owner passed away. Used for the deemed disposition calculation on the terminal return and for establishing cost base for beneficiaries. All reports prepared in compliance with CUSPAP and accepted by CRA.
Probate & Court of Estate Trustee
Appraisals for the Ontario Court of Justice probate process. Value opinions for Schedule A of the Estate Information Return, prepared at a level of detail appropriate for court submission.
CRA Capital Gains Reporting
Appraisals supporting capital gains calculations on inherited property, including valuations at the time of death and at the time of subsequent disposition. CUSPAP-compliant reports accepted by CRA reviewers and auditors.
All Property Types
Residential homes, condominiums, multi-family rental properties, commercial buildings, vacant land, agricultural properties, and cottages. The AACI designation authorizes Metrix appraisers to complete valuations on any property type — including commercial assets that a CRA-designated appraiser is not authorized to appraise.
What to Expect When Ordering an Estate Appraisal
Contact Metrix
Provide the property address, the required effective date (date of death), and the intended use of the report — CRA, probate, beneficiary distribution, or other.
Property Review
The appraiser researches historical market data and, where access is available, inspects the property (or completes a desk review where inspection is not possible or necessary).
Report Delivery
A CUSPAP-compliant appraisal report is delivered identifying the authorized client, authorized users, intended use, effective date, and supported value conclusion — everything CRA expects to see.
Frequently Asked Questions
What is a date-of-death appraisal and when is it required?
A date-of-death appraisal establishes the fair market value of a property as of the date a person passed away. In Canada, this value is used to calculate the deemed disposition gain for income tax purposes on the deceased's final return, and to establish the adjusted cost base for beneficiaries. Estate trustees, executors, and estate lawyers in Ontario typically require a date-of-death appraisal from an AACI-designated appraiser to satisfy CRA documentation requirements.
Can an appraisal be done retroactively for an estate?
Yes. A retrospective appraisal establishes market value as of a historical effective date rather than the current date. For estate purposes, the effective date is typically the date of death. CUSPAP permits retrospective appraisals when sufficient historical market data exists to support a credible value opinion as of the specified past date.
What property types does Metrix appraise for estate purposes in London?
Metrix appraises all property types for estate and probate purposes in the London area, including single-family homes, condominiums, rental properties, commercial buildings, agricultural land, and vacant lots. The AACI designation authorizes Metrix appraisers to appraise all property types — unlike a CRA-designated appraiser who is limited to residential properties.
Need an Estate Appraisal in London, Ontario?
Contact Metrix to discuss the property, the required effective date, and the intended use. We work with estate lawyers, trust companies, and executors across the London area.