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Who can be the customer of property evaluation

The customer of the assessment - what does the Law say?

To answer this question, it is first necessary to understand the basis for any independent evaluation. The Law of Ukraine «About property valuation…» states that property evaluation of all types is performed by appraisal company solely on the basis of a written contract.

The contract for expert evaluation

The Act described two possible types of evaluation contracts: bilateral and tripartite. In the first type of contract there are two parties: the customer and the contractor (appraiser). Since the customer of the expert evaluation can be only a certain number of persons (on this, we will focus more below), in some cases it is impossible to do without the conclusion of a trilateral contract, where in addition to the customer and the contractor there is also a «Payer». Situations in which a tripartite contract is required arise quite often when the person interested in the evaluation is not entitled to be the customer of the evaluation. As an example, you we can use real estate valuation in communal property for the purpose of leasing. As a rule, the customer of the work on valuation is a utility company (balance-holder), and the potential lessee in the contract is listed as a payer. Although it is also the case that a public utility authorizes an assessment by issuing a power of attorney.

It is also necessary to abolish the fact that the legal requirements to the contract for evaluation in terms of its essential conditions are defined. In particular, the evaluation contract must necessarily reflect such specific data:

Who can order the evaluation

Law of Ukraine «About evaluation…» says that the client of independent evaluation can be exclusively:

  • property owners. For example, if you need to have a land evaluation for sale, only the seller can be the customer of such evaluation, because the buyer before the transaction has nothing to do with the property.
  • tenants or those who are entitled to use the property. If at the same time with the tenants everything is clear, then regarding the persons who use the subject of the evaluation legally, give a couple of examples. The first example can be the evaluation of the apartment for sale, when a preliminary contract is concluded between the buyer and seller, certified by a notary (contract of deposit). If, under this contract, the buyer has the right to use the apartment even before the final settlement of the transaction, he also automatically gets the right to be the customer of its evaluation. Second example is residential evaluation for registration of inheritance. The heir in this case has the right to be the customer of the valuation even before he gets the right to ownership of the house.
  • trusted persons of those who have the right to be the customer of the assessment. Most often, the trustees are tenants of municipal or state property, as we mentioned above. Also trusted persons may be attorneys (lawyers) when conducting the evaluation for the division of property in divorce.