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FEDERAL LAW OF THE RUSSIAN FEDERATION

of July 29, 1998 No. 135-FZ

About estimative activities in the Russian Federation

(The last edition from 03-08-2018)

Accepted by the State Duma of the Russian Federation on July 16, 1998

Approved by Council of the Russian Federation on July 17, 1998

Chapter I. General provisions

Article 1. The legislation regulating estimative activities in the Russian Federation

Estimative activities are performed according to international treaties of the Russian Federation, this Federal Law, and also other Federal Laws and other regulatory legal acts of the Russian Federation governing the relations arising when implementing estimative activities.

Article 2. The relations regulated by this Federal Law

This Federal Law determines the legal basis of regulation of estimative activities concerning the objects of assessment belonging to the Russian Federation, subjects of the Russian Federation or municipalities, physical persons and legal entities for the purposes of transactions with assessment objects, and also for other purposes.

Article 3. Concept of estimative activities

For the purposes of this Federal Law estimative activities are understood as the professional activity of subjects of estimative activities directed to establishment concerning objects of assessment market, cadastral, liquidating, investment or provided by federal standards of other value assessment.

For the purposes of this Federal Law market value of object of assessment is understood as the most probable price at which this object of assessment can be aloof in the public market in the conditions of the competition when the parties of the transaction are effective reasonably, having all necessary information, and any force majeure that is when do not affect the size of transaction price:

one of the parties of the transaction shall not alienate assessment object, and other party shall not accept execution;

the parties of the transaction are knowledgeable about subject of the transaction and are effective in the interests;

object of assessment is presented at the public market by means of the public offer typical for similar objects of assessment;

transaction price represents reasonable remuneration for object of assessment and coercion to transaction concerning the parties of the transaction from someone's party was not;

the payment for object of assessment is expressed in cash.

Cadastral cost is understood as the cost established as a result of carrying out the state cadastral assessment or as a result of consideration of disputes on results of determination of cadastral cost or determined in cases, the stipulated in Article 24.19 these Federal Laws.

For the purposes of this Federal Law salvage value is understood as the settlement size reflecting the most probable price at which this object of assessment can be aloof for the term of exposure of object of assessment, smaller the typical term of exposure of object of assessment for market conditions, in conditions when the seller is forced to make the transaction on property acquisition.

For the purposes of this Federal Law investment cost is understood as assessment project cost for the particular person or group of persons in case of the investment purposes of use of object of assessment established by this person (persons).

Article 4. Subjects of estimative activities

Subjects of estimative activities the physical persons which are members of one of self-regulatory organizations of appraisers and insured the responsibility according to requirements of this Federal Law are recognized (further - appraisers).

The appraiser can perform estimative activities independently, being engaged in private practice, and also based on the employment contract between the appraiser and the legal entity who corresponds to conditions, the stipulated in Clause 15.1 presents of the Federal Law.

The appraiser can perform estimative activities for the directions specified in the competence certificate.

Article 5. 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, including the companies);

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;

other objects of the civil laws concerning which the legislation of the Russian Federation establishes possibility of their participation in civil circulation.

Article 6. The right of the Russian Federation, subjects of the Russian Federation or municipalities, physical persons and legal entities on evaluating assessment objects belonging to them

The Russian Federation, subjects of the Russian Federation or municipalities, physical persons and legal entities have the right to carrying out assessment by the appraiser of any assessment objects belonging to them on the bases and conditions provided by this Federal Law.

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