ABSTRACT

Knowledge of the purpose for which the valuation is required is therefore vital to the valuer, for the advice of the valuer in respect of a particular interest in landed property is not necessarily the same for all purposes. In many cases, the valuer will also require to know details of the circumstances of the person for whom the valuation is being prepared because the subjective value of a particular interest may be different for different individuals according to, for example, their liability to income tax.