Probate for different kinds of property? 11 May 2019 at 12:50PM edited 30 November -1 at 1:00AM in Deaths, Funerals & Probate 3 replies 740 views

Danielle_Fraser

My father died in 2014 owning a house and four properties, two commercial and two residential. Probate was handled by a solicitor. As the house was also my residence at the time of his death, it wasn't subject to capital gains tax.
I am considering selling the other properties but need to know if two separate probates would have been granted in order to calculate capital gains tax.
I only have one document but it seems to relate only to the value of the house. If someone dies owning additional properties, would there have to be a second, separate probate relating to the rental properties?
All answers much appreciated.

Keep_pedalling

Everything he owned would have been dealt with under one probate application. You can obtain the records on the following link.

https://www.gov.uk/wills-probate-inheritance/searching-for-probate-records.

You can also get a historic valuation using a RICS surveyer.

Savvy_Sue

Just wondering though if the rental properties were owned by a Ltd Company which is still in existence?

Tom99

There will only have been one probate granted for your father. Did you inherit all 4 properties on his death?
A date of death open market value will have been submitted for IHT purposes for each individual property. Those values will form your 'acquisition cost' for CGT purposes when you sell.
You need to approach the solicitors who dealt with the probate and find out this information. It is quite likely that all 4 properties had professional RICS valuations undertaken at the time and copies of those valuations would also help you complete your records.