LIETUVOS TURTO VERTINTOJU ASOCIACIJA (LTVA)
Lukiškių g. 5-414
Tel & Fax: +3705 261 89 51
President: Audrius Šešplaukis
Vice-President: Tauras Antanas Tupinis
Chief Executive: Ingrida Vetloviené
Secretariat: 2 staff
Number of qualified valuers (individuals): 168
Number of valuation companies: none
Member of TEGoVA since: 1995
Category of membership: Full
Permanent Representative to TEGoVA
AS & Partners
Jogailos st. 4
Mobile: +370 687 810 10
Brief History and Role
the Lithuanian Association of Property Valuers was established on 22 March, 1994 as a non-governmental professional organisation.
The Association plays a leading role in discussions with government on proposed legislative changes, publishes practice notes on valuation topics and co-operates in the formulation of national and international valuation best practice.
National Property and Business Valuation Standards was published in 2005 by Lithuanian Association of Property Valuers and Lithuanian Association of Property and Business Valuation Enterprises.
The aims for founding Association are the following:
* to organise a non-state qualified system for valuation of different property and capital;
* to take care of training of specialists for valuation of property and capital;
* to accumulate and provide methodical and other assistance including information on valuation issues
The Association's activity is to create a new field of professional activity, and to form a favourable environment for it to grow in a transition of the economy.
As the valuation network was created, the following tasks had to be solved: arranging of professional education and certification, creation of a framework of guidance and regulation, assuring the quality of valuation services, seeking recognition as a profession.
From 1995 on, the lectures at the training courses were mostly given by the members of the Association who had been involved in preparation of the Property Valuation Guidance Notes, the tests of the certification examinations, and the lectures of national university.
The Association’s experts are usually invited to lecture at the courses held by banks, insurance companies, some public agencies to their staff. Thus a winder audience is introduced to valuation issues.
Principal Areas of Policy
In the Valuation area of the Association work the principal areas are:
* to analyse experience of property valuation in other countries using it in professional activities of property valuers in the Republic of Lithuania;
* to prepare professional valuers training programmes;
* to organise valuers training courses;
* to co-operate with state institutions in the field of development and implementation of valuation standards;
* to collect, store and provide information and research surveys related to valuers professional activities for Association's members;
* to develop relations with non-state and other organisations of the Republic of Lithuania;
* to develop relations with international and foreign organisations of property valuers and to participate in their activities;
* to keep accounts of evaluated property on data base
The management bodies of the Association are the General Meeting (the Conference) of Members, the Board and the President.
The General Meeting of Members is the supreme body of management. All members of Association have right to participate there. The General Meeting of Members has right to consider any problem within competency of the Board or of the President.
Valaution companies and individual aluers covering the fllowing areas:
* Immovable property valuation
* Movable property valuation
* Motor vehicles valuation
* Business valuation
* Recreational and Leisure Property Valuation around the Baltic Sea. Baltic Valuation Conference proceedings (2008)
* Lithuanian Property Valuers - 15 years' experience and future perspectives. Conference proceedings (in Lithuanian, English and French), 2009
* The economy and property value changes: trends and management measures. Conference proceedings, 2011
* Public and private assets: transformations, effective use and valuations aspects. Conference proceedings, 2012
* Annual electronic edition: The Writings of the Property Valuation Theory and Practice, since 2009 (2009; 2010/2011; 2012; 2013)
LTVA has translated the European Valuation Standards 2012 into Lithuanian.