LATVIJAS IPASUMU VERTETAJU ASOCIACIJA (LIVA)
Elizabetes street 65-7
LV 1050 Riga
Tel: +371 7288844
Fax: +371 7288844
President Vilis Žuromskis REV
Vice-President: Ivars Strautins REV
Secretariat: 2 staff
Number of direct members: 110
Number of qualified valuers (individuals): 132
- Real Estate: 109
- Business: 7
- Plant & Machinery: 16
Number of valuation companies: 33
Member of TEGoVA since: 1997
Category of membership: Full
The Latvian Association of Property Appraisers non-profit and non-governmental professional organisation, engaged in uniting of licensed and certified property appraisers, as well as private companies and governmental institutions.
Permanent Representatives to TEGoVA
Tel: +371 9416545
Member of the Board
Tel: +371 67288844
Mobile: +371 29236424
Brief History and Role
The Latvian Association of Property Appraisers was founded in January 1995.
1. To set up and develop a qualified property valuation system, corresponding to the requirements of conventional valuation practice and development of market economy in Latvia.
2. To set up and develop complete educational and training system for property valuers.
3. To master the world's most progressive valuation methods and approaches and popularise them in Latvia.
4. To consult the clients concerning property valuation.
Principal Areas of Policy
The Association, together with its members and specialists from other institutions, has determined the following tasks:
1. Working out the regulations for real property valuers, including Code of Ethics.
2. Elaboration of the National Valuation Standards consistent with International Valuation Standards and the European Valuation Standards.
3. Establishing and developing of training system for the valuers.
4. Developing of contacts between the Association and international organisations of property appraisers.
The Association is operating according to the principles established in its statues. Annually the general meeting of the association members elects the president and vice-president and the board, consisting from 6 members, as well as the Auditing Commission.
The head of the administration is the President. In the periods between the annual meetings the work of the association is guided by the Board. The Board organise regular meetings at least once per month, solving actual matters regarding current matters related to the operations of the Association.
The work of the Association is carried out in the form of the committees - presently there operate 6 committees and 7 commissions. As the leader of each work groups there is appointed a Board Member.
The certification body of real property valuers is Appraisers Certification bureau being sub-structure of LIVA, which has passed accreditation according to LVS EN ISO/IEC 17024 standard.
According to the by-laws of the Association, there is three-grade membership.
As members of the Association there are accepted professionals, certified by the Association in any valuation category.
The grade of Candidate is awarded to natural persons, having acquired the appraisal profession or continuing professional education in a college or higher educational establishment recognised by the Association and who are working as valuers.
Affiliate Membership may be granted to any legal person who work with appraisal profession.
The mandatory requirement towards all the three grades of members is determination to foster the implementation of the objectives set forth by the Association, acceptance and following to the Statues of the Association and payment of the membership fees.
LVA is an authorised institution responsible for certification of appraisers in the following valuation categories:
* real property valuation
* business and intellectual property valuation
* valuation of personalty, plant and equipment
* overland transport valuation
* air transport valuation
* water transport and ship valuation
* jewellery and antiques valuation
According to the certification system of property valuers, the requirements for obtaining professional appraisal practice certificate in Latvia are the following:
* Higher professional education in valuation or higher education and adequate post-graduate education in corresponding valuation category
* At least three year experience in valuation
* Being a member or candidate of LIVA
* Continuous raising the qualification in educational courses
To pass the certification an appraiser must demonstrate his knowledge in valuation theory as well as to illustrate his practical experience.
Presently Latvian Association of Property Appraisers has issued the following certificates in property appraisal:
* 72 - in real property appraisal
* 8 - in business and intellectual property valuation
* 14 - in valuation of personalty, plant and equipment
* 1 - in jewellery and antiques valuation
To be completed soon