VENAL VALUE OF PROFESSIONAL GOODS
To have a "venal" value of professional or personal assets, certified by a qualified and independent expert, is often necessary, for accounting reasons (extension of the new IFRS rules to the non quoted companies) for fiscal reasons (wealth tax), for fairness (sharing or succession for example) or in M & A operations (merger, acquisition, exchange,..)
The professional assets that fall under this definition are notably : industrial, business buildings and activities: factories, warehouses, shops, sales and office buildings, including for mixed use, plant and equipment: machine-tools, on industrial facilities, fixtures and fittings, intangible elements: goodwill, lease premium, for which the net book value often doesn't correspond to their "valued (venal) real value."
The Venal Value appraisal defines the value or theoretical evaluation of an asset, taking into account demand and the supply, on a defined market. It corresponds to the best price at which an asset could be sold at the date of the realization of the appraisal, according to a reasonable expert, .
Thus, the appraisal of the venal value is is summarised in a document that describes, at that time the objective elements of the value of the assets, judged by the expert (notably relative technical elements re the quality and the state of the construction), and at a time of the appraisal elements of reference concerning similar assets recently sold, as well as all the detail and calculation enabling correlation of the information collected.
LAMY S.A.Expertise has long experience in the domain of the realization of appraisals of real estate venal value and material, for both private and public companies and organisations (Government, Institutional investors, Major Accounts, SME and TPE) some of which are shown in the following list :
Group Generali Concorde, Ax, Group Foncia, Shopping mall of Chavril, Caisse de Depots et Consignations, Euromaster France, Clinic-Villa of the Roses, Duferco International, Group Aipal, Polyclinic Pasteur, SYTRAL, General Electric, Caixa Bank, County courts (Paris, Lyons, Marseille, Nantes.), SOFCO, Group SEPI, Society ESCO, Group Feu Vert, Society SOTRAGAL, Regie des Jacobins.
References to laws and standards
- Decree n°90-981 of November 5, 1990, relative to the quinquennial obligatory valuation of real estate assets of the insurance companies ;
- Law n°90-1300, of December 31, 1990), relative to the evaluation of the real estate assets of the S.C.P.I. ;
- Circular M14, of January 1st, 1997, relative to the obligatory appraisal of real estate assets of the regional local authorities ;
- International accounting standard IFRS, relative (International Financial Reporting Standards) to the obligatory evaluation of assets
- Charter of Real Estate Appraisal(1)
(1) adopted by the French Association of Engineers, Inventors and Industrial Directors (AFICRI), the French Association of Real estate Appraisal (AFREXIM), the Chamber of Real Estate Experts of Belgium (CIBEX), the Chamber of the Real Estate Experts of France (CEIF-FNAIM), the Company of the Experts in Real estate valuation to the Court of Appeal of Paris (CEEICAP), the National Company of the Real Estate Experts (CNEI), the National Company of the Judicial Experts in Real estate Valuation (CNEJ), the Confederation of the Agricultural, Land and Real estate (CEAFI) Experts, the Upper Council of notaries and the Notarial Institute of Real estate (CSN), the National Federation of the Chamber of Experts and Judicial Experts (EEFIC), the French Institute of Real estate Appraisal (IFEI), the order of Surveyors (OGE).
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