RESOLUTION OF THE CABINET OF MINISTERS OF UKRAINE

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.

Approved by the Resolution of the Cabinet of Ministers of Ukraine of September 10, 2003, No. 1440

National standard No. 1 "General bases of assessment of property and property rights"

General questions

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.

3. Concept which are used in this Standard are used in other national standards in the value established by this Standard, in particular:

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;

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