Valuation
10.16
What is considered as real estate for the purpose of determining whether the requirement for a valuation under paragraph 10.04 of the Main LR is applicable?
For the purpose of determining whether the requirement of paragraph 10.04 of the Main LR is applicable, real estate means land and all things that are a natural part of the land as well as all things attached to the land both below and above the ground and includes the rights, interests and benefits related to the ownership of the real estate.
Examples of the rights, interests and benefits related to the ownership of the real estate including development rights, timber concession, mining concession etc.