13 Mar 2006

Vanuatu launches land valuer code

2:15 pm on 13 March 2006

Vanuatu's minister of land, Maxime Carlot Korman, has ordered all business houses and individuals selling land to register with the land valuer general, Menzies Samuel.

The minister made the call to real estate agents and commercial banks and individual land valuers when he launched the country's land valuer code of professional practice.

The minister said the code is the best thing that has happened since the country gained independence from Britain and France 25 years ago.

The minister said all land valuers are expected to use one standard method based on the code and he warned the valuers not to overvalue or undervalue land.

The minister said anyone who breaches the code will be disciplined and have their licence cancelled.