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Valuation and Valuers Registration Act, 2016 (No. 7 of 2016).

Country/Territory
United Republic of Tanzania
Document type
Legislation
Date
2016
Source
FAO, FAOLEX
Original source
Gazette of the United Republic of Tanzania No. 41 of 30 September 2016.
Long title
An Act to provide for powers and functions of Chief Valuer of the Government; to establish the Valuers Registration Board; to provide for the functions and management of the Board; to provide for regulation and control of valuation profession and practice; and to provide for related matters.
Subject
Land & soil
Keyword
Land valuation Legal proceedings/administrative proceedings Institution Registration
Geographical area
Africa, Eastern Africa, Least Developed Countries
Abstract

This Act provides with respect to the process in which the value of an interest in real property is assessed by a valuer. It also requires a Chief Valuer to be appointed within the Ministry responsible for lands and provides for the registration of valuers. The Chief Valuer is appointed by the President and shall be responsible for advising the Government on all matters relating to valuation practice and activities and be head of the Valuation Department within the Ministry. The Act also provides for the appointment of government valuers and the establishment of a Valuers Registration Board. Every registered valuer or person practising valuation shall comply with guidance on valuation practice set out under this Act and Regulations made under this Act. The carrying out of valuation shall be for the specified purposes including, among other things: (a) rating; (b) compensation; (c) land rent assessment; (d) probate and administration; (e) capital gains tax; (f) sale or purchase; (g) mortgage; (h) rental value assessment.

Full text
English
Website
parliament.go.tz