The present Act introduces some amendments to the Land Transaction Act of 9 December 1992. In particular, the Act amends, inter alia, article 4 establishing that the valuation of rights to land in Liechtenstein and of other assets situated in Liechtenstein is determined by the market value and the provisions of valuation legislation. The text consists of 3 articles.
Amends: Land Transaction Ordinance. (2013)
Authors and Publishers
The Principality of Liechtenstein was established within the Holy Roman Empire in 1719. Occupied by both French and Russian troops during the Napoleonic Wars, it became a sovereign state in 1806 and joined the Germanic Confederation in 1815. Liechtenstein became fully independent in 1866 when the Confederation dissolved. Until the end of World War I, it was closely tied to Austria, but the economic devastation caused by that conflict forced Liechtenstein to enter into a customs and monetary union with Switzerland.