Question: When doing an appraisal for an estate with an effective date of the date-of-death, who is the owner of record.

 

Answer: A date-of-death appraisal is a retrospective appraisal that is normally done for tax purposes or to determine the gain on the sale of the property by the heirs.  The effective date of the appraisal is the date-of-death or some other date as specified by the client (usually the estate or the heirs).

 

As with any and all appraisals, the owner of record is the owner as of the effective date of the appraisal which, presumably, would be the deceased.

 

If you want to explain who the current owners are, do it in an addendum, the scope of work definition, or the purpose of the appraisal section.  If fact, I believe an explanation somewhere would be in order but the explanation does not change who the owner was as of the effective date of the appraisal which generally coincides with the date of death.

 

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