of September 10, 2003 No. 1440
About approval of the National standard No. 1 "General bases of assessment of property and property rights"
According to article 9 of the Law of Ukraine "About assessment of property, property rights and professional estimative activity in Ukraine" the Cabinet of Ministers of Ukraine decides:
1. Approve the National standard No. 1 "General bases of assessment of property and property rights" it (is applied).
2. Authorize Fund of state-owned property to provide explanations concerning application of national standards.
Prime Minister of Ukraine
Approved by the Resolution of the Cabinet of Ministers of Ukraine of September 10, 2003, No. 1440
1. The national standard No. 1 (further - the Standard) is obligatory for application during evaluating property and property rights (further - property) subjects of estimative activities, and also persons which according to the legislation perform reviewing of valuation reports of property.
2. Features of evaluating certain types of property are determined by separate national standards and other regulatory legal acts according to property.
measurement base - complex of methodical approaches, methods and estimative procedures which answer certain cost type of property. For determination of measurement base the purpose of assessment and condition of use of its results are considered;
methodical approaches - general methods of cost determination of property which are based on the basic principles of assessment;
evaluation method - method of cost determination of object of assessment which sequence of estimative procedures gives the chance to implement certain methodical approach;
estimative procedures - actions (stages) which accomplishment in certain sequence gives the chance to carry out assessment;
valuation principles - the basic rules of assessment of property assigned in basis of methodical approaches which display socio-economic factors and regularities of forming of property value;
assessment objects - property and property rights which are subject to assessment. Objects of assessment classify by different signs, in particular, assessment objects in material and non-material form, in the form of complete property complex;
assessment objects in material form - real estate (real estate) and personal estate;
real estate (real estate) - the parcel of land without improvements or the parcel of land with improvements which are inseparably linked with it, structures, constructions, their parts, and also other property which according to the legislation belongs to real estate;
personal estate - material objects which can be moved without causing harm by it. The property in material form which is not the real estate belongs to personal estate;
assessment objects in non-material form - assessment objects which do not exist in material form, but give the chance to receive certain economic benefit. In non-material form financial interests (parts (shares, shares), options, other securities and their derivatives, bills of exchange, receivables and payables, etc.), and also other property rights belong to objects;
assessment objects in the form of complete property complex (complete property complex) - objects which set of assets gives the chance to carry out certain economic activity. Complete property complexes are the companies, and also their structural divisions (shops, productions, the site, etc.) which can be allocated in accordance with the established procedure in independent objects with further creation of the corresponding balance and can be registered as independent business entities;
business - certain economic activity which is conducted or planned for carrying out with use of assets of complete property complex;
biased assessment - assessment which is based on obviously inveracious basic data which are intentionally used by the appraiser for provision of biased conclusion about assessment project cost;
low-quality (doubtful) assessment - assessment which is carried out with violation of the principles, methodical approaches, methods, estimative procedures and (or) based on unreasonable assumptions that it is proved by reviewing;
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