RESOLUTION OF THE STATE COMMITTEE OF THE REPUBLIC OF UZBEKISTAN ON MANAGEMENT OF THE STATE-OWNED PROPERTY

of June 14, 2006 No. 01/19-19

About approval of the National standard of the Republic of Uzbekistan of assessment of property "General concepts and valuation principles"

According to the Law of the Republic of Uzbekistan "About estimative activities", the resolution of the President of the Republic of Uzbekistan of April 26, 2006 NPP-335 "About Measures for Enhancement of Activities of the State Property Committee of the Republic of Uzbekistan" and the resolution of the Cabinet of Ministers of the Republic of Uzbekistan of May 8, 2003 the State committee of the Republic of Uzbekistan on management of state-owned property decides N210 "About Licensing of Estimative Activities":

1. Approve the National standard of the Republic of Uzbekistan of property assessment "General concepts and valuation principles" according to appendix.

2. This resolution becomes effective after ten days from the moment of its state registration in the Ministry of Justice of the Republic of Uzbekistan.

Approved by the resolution of the State committee of the Republic of Uzbekistan on management of state-owned property of June 14, 2006 No. 01/19-19

National standard of the Republic of Uzbekistan of property assessment (NSOI 1) "General concepts and valuation principles"

The National Standards of Assessment of Property (NSAP) are developed on the basis of the Law of the Republic of Uzbekistan "About estimative activities" and are element of normative regulation of estimative activities in the Republic of Uzbekistan.

National standards of assessment of property are aimed at providing in economic circulation of objects of the civil laws and transparency of the property relations, and also activities of economic actors by use of market information on the basis of which the appraiser takes out professional judgment concerning assessment project cost size.

1. Introduction

This National standard of assessment of property "General concepts and valuation principles" (NSOI N1) establishes the general concepts and valuation principles applied when implementing estimative activities in the Republic of Uzbekistan.

Provisions of this standard are basic for all National standards of assessment of property in the Republic of Uzbekistan.

NSOI is intended for subjects of assessment: appraisers - persons having experience, preparation and qualification for property assessment for the purpose of use in case of interaction in the course of assessment with customers - agents of the market.

Appraisers are the specialists working in the field of the economy connected with evaluating property and creation of the corresponding reporting documentation. As professionals appraisers shall meet strict requirements in respect of education, special preparation, competence and the shown professional skills. They also shall follow steadily the high moral principles (ethical standards) and professional standards (standards).

NSOI is subject to obligatory application by appraisers, and also can be used also by other legal entities and physical persons participating in estimative activities concerning objects of the property right of physical persons and legal entities, the state and territorial educations in the territory of the Republic of Uzbekistan.

2. Assessment objects

Treat objects of assessment:

separate material objects (things);

set of the things constituting property of person, including property of certain type (movable or immovable);

the property right and other corporeal rights to property or separate things from structure of property;

rights to claim, obligations (are long);

works, services, information;

intellectual property items and other objects of the civil laws concerning which the legislation establishes possibility of their stay in civil circulation.

Things (property)

For the purposes of assessment differentiate real and personal estate (things). The parcels of land, subsoil plots, the isolated water objects and everything that is firmly connected with the earth, that is all objects attached to the earth, underground and elevated accessions, all long-term accessions to buildings, the built-in objects which movement without disproportionate damage to their appointment is impossible, including the woods, long-term plantings, buildings, constructions belong to immovable things (real estate, the real estate).

The things which are not relating to the real estate including securities, are recognized personal estate.

Intellectual property

Treat intellectual property items:

1) results of intellectual activities:

works of science, literature and art;

execution, phonograms and transfers of the organizations of broadcasting;

programs for electronic computers and database;

inventions, useful models, industrial designs;

selection achievements;

unsolved information, including know-how (know-how);

2) means of individualization of participants of civil circulation, goods, works and services:

trade names;

trademarks (service marks);

names of places of goods origin;

3) other results of intellectual activities and means of individualization of participants of civil circulation, goods, works and services in cases, stipulated by the legislation.

Corporeal (property) rights

The corporeal rights are the rights to personal and real estate, including: property right; right of economic maintaining, right of operational management, right of trust management, right of lifetime inheritable possession, right of permanent (termless) use, lease, mortgage, servitudes. The rights to real estate are recognized for the purposes of assessment only on condition of state registration of their origin, transition and the termination. Registration of the rights to movable things is not required, except the cases which are specially established in the legislation.

Obligations

As object of assessment the obligation of one person and right to claim of other person on making or non-execution of certain actions owing to the agreement owing to damnification and from other bases determined by the civil legislation including on cession of property, performance of work, transfer of money, and also on cession of property (property hiring) can act.

Company (business)

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info