The Latvian Land Fund conducts transactions in agricultural land with the aim to preserve it and ensure its use in agriculture.
The Latvian Land Fund:
Conducts barter transactions
The Land Fund of Latvia rents agricultural land with a goal to facilitate the preservation and use of agricultural land.
The agricultural land owned by the Land Fund of Latvia is offered for rent to entrepreneurs operating in the field of agriculture in order to preserve and improve the value of the land.
An agricultural land rent contract shall be concluded for a period that is not less than 5 years in accordance with Law on Land Privatisation in Rural Areas.
The Land Fund of Latvia rents its agricultural land by observing the Law On Prevention of Squandering of the Financial Resources and Property of the State and Local Government (Section 6.4), Law On Land Privatisation in Rural Areas and by observing other regulations binding to the Land Fund of Latvia.
The objective of the Land Fund of Latvia is to promote the agricultural land’s protection, availability and preservation, as well as efficient and sustainable use thereof at a national level.
ALTUM is the administrator (operator) of the Land Fund of Latvia in accordance with the order issued by the Cabinet of Ministers of the Republic of Latvia.