How Far Back Can a Retrospective Appraisal Go?

When administering an estate, resolving tax obligations, or preparing for litigation, one question comes up often: “How far back can a retrospective appraisal go?”

Retrospective appraisals—also known as date-of-death, historical, or backdated appraisals—play a critical role in probate, estate equalization, trust distributions, capital gains calculations, and estate disputes. Yet many executors and beneficiaries assume there is a strict limit on how far back an appraiser can value a property.

The truth: There is no legal maximum time limit for retrospective appraisals in Ontario.What matters is the availability of reliable market data and the appraiser’s ability to reconstruct the property’s condition as of the effective date.

Below is a clear, lawyer-friendly guide to when retrospective appraisals are needed, how far back they can be completed, and what determines their reliability.

What Is a Retrospective Appraisal?

A retrospective appraisal provides the market value of a property as of a specific date in the past.Common effective dates include:

• Date of death (probate and estate settlement)

• Prior years for CRA capital gains calculations

• Marriage date or separation date (family law files)

• Historical valuations for estate disputes or mediation

• Valuation as of the date a trust was settled or distributed

  
  

Unlike a current appraisal, these reports apply today’s appraisal standards to reconstruct past market value using:

• Historical MLS sales

• Archived market reports

• Local economic indicators

• Property condition as of the valuation date

• Adjusted comparable sales from the relevant period

  
  

So—How Far Back Can You Appraise?

There is no fixed time limit under Canadian appraisal standards.

Retrospective appraisals may go back:

• 1–3 years (most common for probate and CRA files)

• 10–20 years (marriage date valuations for divorces)

• Even 30–40 years when supported by historical data

  
  

In practice, the limiting factor is data availability, not time.

A certified appraiser can perform a retrospective appraisal for any year as long as:

1. MLS or market data exists for that period

2. Sufficient information is available about the property’s condition at the time

3. The valuation complies with CUSPAP standards

   
   

If detailed data is limited, the appraiser may rely on other credible sources, such as:

• Archived listings

• Municipal assessment records

• Historical photographs or surveys

• Interviews with homeowners or family members

• News archives and market summaries

  
  

Because estate matters often involve older properties or incomplete documentation, selecting an experienced appraiser who specializes in retrospective work is essential.

Why Retrospective Appraisals Are Critical in Estate Files

1. Probate & Equalization

Courts and trustees require an accurate value as of the date of death, not today’s value.This ensures fair distributions and reduces future disputes.

2. CRA Capital Gains

Executors often need valuations from years or decades earlier—such as:

• The value when the property was inherited

• The value on a specific past date when ownership changed

• The Fair Market Value prior to a deemed disposition

  
  

3. Estate Litigation

Retrospective appraisals help resolve disputes involving:

• Allegations of undervaluation

• Disagreements among beneficiaries

• Trust accounting issues

• Historical valuations for mediation or trial

  
  

4. Family Law & Marriage Date Valuations

Even though this article targets estate lawyers, many legal professionals are surprised that marriage date valuations may require appraisals 20–30 years back.This further shows how flexible retrospective appraisals can be.

What Impacts the Reliability of a Retrospective Appraisal?

An appraisal can go far back, but accuracy depends on:

Historical sales data availability

MLS archives for the GTA are extensive, even decades back.

Knowledge of the property at the time

If renovations or additions happened since, adjustments must be made.

Market stability during the valuation period

Some periods require deeper economic analysis (e.g., early 1990s downturn).

Ability to confirm the property’s condition'

Photos, inspection reports, or archived listings are extremely helpful.

A seasoned appraiser will clearly explain the data sources, limitations, and methodology so the report can stand up to scrutiny from CRA, courts, or opposing counsel.

Key Takeaway for Estate Lawyers

A retrospective appraisal can go back as far as necessary—whether months, years, or decades.What matters most is hiring an experienced appraiser who can justify the valuation with credible historical data and meet the evidentiary standards required for probate, CRA, and litigation.

Need Help With a Retrospective or Date-of-Death Appraisal?

At Walson Consulting Inc., we specialize in:

• Date-of-death valuations

• Retrospective and historical appraisals

• CRA capital gains valuations

• Probate and estate settlement appraisals

• Litigation-ready, defensible reports

  
  

All reports are completed by a Designated Member of the Appraisal Institute of Canada (AIC) and meet CUSPAP standards, ensuring acceptance by:

• Lawyers

• Trustees

• CRA

• Courts

• Financial institutions