{"id":12860,"date":"2022-06-13T09:28:13","date_gmt":"2022-06-13T07:28:13","guid":{"rendered":"https:\/\/www.altum.lv\/?page_id=12860"},"modified":"2026-01-15T10:57:09","modified_gmt":"2026-01-15T08:57:09","slug":"land-purchase-with-entitlement-to-of-rent-and-buyback","status":"publish","type":"page","link":"https:\/\/www.altum.lv\/en\/services\/land-fund-of-latvia\/land-purchase-with-entitlement-to-of-rent-and-buyback\/","title":{"rendered":"Land purchase with entitlement to of rent and buyback"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"12860\" class=\"elementor elementor-12860\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section altum__default elementor-element elementor-element-f7d9a02 elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"f7d9a02\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-8c17d59\" data-id=\"8c17d59\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7e48ac0 elementor-widget elementor-widget-altum-tab-header-links\" data-id=\"7e48ac0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"altum-tab-header-links.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n            <section class=\"topBanner topBanner-topicFamily topBanner-pb-0\"  style=\"background-image: url(https:\/\/www.altum.lv\/wp-content\/uploads\/2023\/02\/Zemes-fonds_3-01.png)\">\n                <div class=\"container\">\n\t\t\t\t<div class=\"topBanner__breadcrumbs\"><a href=\"https:\/\/www.altum.lv\" class=\"topBannerBreadcrumb__link\">Altum<\/a><span class=\"topBannerBreadcrumb__indent\">-<\/span><\/div>\n\n                    <div class=\"topBanner__content\">\n                        <div class=\"topBanner__left\">\n                            <h1 class=\"topBanner__title\">\n                                Land purchase with entitlement to of rent and buyback\n                            <\/h1>\n                           \n                        <\/div>\n                        <div class=\"topBanner__right\">\n                            <div class=\"topBanner__menuWrap\">\n                               \n                <a href=\"\/en\/services\/land-fund-of-latvia\/\"  class=\"topBanner__menu-link\">Land fund of Latvia<\/a>\n            \n                <a href=\"\/en\/services\/land-fund-of-latvia\/buys-land\/\"  class=\"topBanner__menu-link\">Land fund of Latvia buys land<\/a>\n            \n                <a href=\"\/en\/services\/land-fund-of-latvia\/land-purchase-with-entitlement-to-of-rent-and-buyback\/\"  class=\"topBanner__menu-link\">Land Fund of Latvia buys land with the entity of rent and buyback<\/a>\n            \n                <a href=\"\/en\/services\/land-fund-of-latvia\/land-fund-of-latvia-sells-and-changes-land\/\"  class=\"topBanner__menu-link\">Land fund of Latvia sells and changes land<\/a>\n            \n                            <\/div>\n                        <\/div>\n                    <\/div>\n                    <div class=\"mobileScroll\">\n                        <div class=\"famWithChildTop__btnWrap famWithChildTop__topBanner\">\n                            \n                        <\/div>\n                    <\/div>\n                <\/div>\n            <\/section>\n\t\t\n            <section>\n                <div class=\"container\">\n                    <div class=\"famWithChild__bottom\">\n                        <div class=\"container\">\n                            <div class=\"altum__headerTab-content\"><\/div>\n                        <\/div>\n                    <\/div>\n                <\/div>\n            <\/section>\n        \t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section altum__default elementor-element elementor-element-cbc2cb1 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"cbc2cb1\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-e365faa\" data-id=\"e365faa\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d623d7f elementor-widget elementor-widget-text-editor\" data-id=\"d623d7f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div>\n<div class=\"richtext__intro program-about__intro\">\n<h3>Land purchase with entitlement to rent and buyback by the last owner, is a service established for farmers, who are in need to stabilize cash flow and develop economic activities.<\/h3>\n<p>\u00a0<\/p>\n<h3>Essence of the service<\/h3>\n<ul>\n<li>Farmer sells his agricultural land to the Land fund of Latvia (Latvijas zemes fonds) together with the sales contract concluding contract on rent and buyback of the property.<\/li>\n<li>Farmer becomes a tenant, continues to use the land for agricultural production with entitlement to buy the land back after 5 years.<\/li>\n<\/ul>\n<h3>\u00a0<\/h3>\n<h3>Conditions of the service<\/h3>\n<ul class=\"program-about__list\">\n<li class=\"program-about__item program-about__item--full\">\n<p>The process of purchase and evaluation of the property is implemented in line with the conditions of purchase of properties and the procedure for registration of properties of the Land fund of Latvia.<\/p>\n<\/li>\n<li>Land fund of Latvia shall evaluate the previous business experience and the objectives of the transaction. \u00a0<\/li>\n<li>Contract of rent and buyback of the property shall be concluded together with the sales contract of the property.<\/li>\n<li>Maturity of the contract of rent and buyback is 5 years, and it defines both rent par year and the price of buyback of the property.<\/li>\n<li>Applicable rent per year shall not be less than the average price of comparable properties at the particular parish or townland, including in the rent the sum of the real estate annual tax, cost of the financing of the sales transaction, administrative costs to monitor compliance with the conditions of the contract.<\/li>\n<li>Yearly rent shall be split up to four equal payments and should be paid once a quarter.<\/li>\n<li>Real estate tax shall be paid by the owner &#8211; administrator of the Land fund of Latvia.<\/li>\n<li>\n<p>A repeated deal with lease and repurchase rights for the same property owned by the same seller can be evaluated only once, within 1 year after the completion of the previous deal (registration of ownership rights in the Land Register).<\/p>\n<\/li>\n<\/ul>\n<h3>\u00a0<\/h3>\n<h3>Price of the service<\/h3>\n<ul>\n<li>Land fund of Latvia purchases the property for the price that corresponds to the average market price of the property at the moment of purchase and applies price reduction of 10% to cover the risks and costs related to the buyback transaction.<\/li>\n<li>Rent shall be set at 6,5 % the price of purchase per year.<\/li>\n<li>Buyback price is set as the price of the property at the moment of purchase not exceeding the average market price at the particular parish for property purchase transactions during the last two years (10% price reduction is not applied).<\/li>\n<\/ul>\n<h3>\u00a0<\/h3>\n<h3>Price for the repeated deal<\/h3>\n<ul>\n<li>\n<p>Land fund of Latvia buys the property at a price that corresponds to 72.5% of the property&#8217;s market price at the moment of purchase.<\/p>\n<\/li>\n<li>Rent shall be set at 6,5 % the price of purchase per year.<\/li>\n<li>Buyback price is set at 85% of the property&#8217;s market price at the moment of purchase.<\/li>\n<\/ul>\n<h3>\u00a0<\/h3>\n<h3>Commission<\/h3>\n<ul>\n<li>Lump sum transaction evaluation commission shall be applied to the reverse rent transaction in accordance with the Price-list of services related to the Land fund of Latvia property purchase transactions with entitlement to rent and buyback.<\/li>\n<\/ul>\n<ul>\n<li class=\"program-about__item\">\n<p>Regulatory enactments regulating the revere rent services provided by Land fund of Latvia are following: <a href=\"https:\/\/likumi.lv\/doc.php?id=74241\" target=\"_blank\" rel=\"noopener\">Law On Privatisation of the Land in Rural Areas<\/a>, Cabinet Regulation No. 748 of 02.12.2014\u00a0<a href=\"https:\/\/likumi.lv\/ta\/id\/271228-noteikumi-par-lemumu-pienemsanu-darijumiem-ar-lauksaimniecibas-zemi\" target=\"_blank\" rel=\"noopener\">Regulations for Transactions Involving Agricultural Lan<\/a><\/p>\n<\/li>\n<\/ul>\n<\/div>\n<\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a8380fc elementor-widget elementor-widget-altum-employees\" data-id=\"a8380fc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"altum-employees.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n\t\t\t\t<section class=\"consultants consultants-bt\" style=\"margin-top: 10px; margin-bottom: 60px\">\n\t\t\t\t\t\n\t\t\t\t\t\t<div class=\"consultants__wrap\" \">\n\t\t\t\t\t\t\t<h2 class=\"consultants__h2\" tabindex=\"0\">Contact Land fund of Latvia consultants for more information<\/h2>\n\t\t\t\t\t\t\t<div class=\"consultants__content\">\n\t\t\t\t\t\t\t\t\n\t\t\t\t<div class=\"consultantsContent__elem\">\n\t\t\t\t\t\n\t\t\t\t\t<div class=\"consultantsContent__info\">\n\t\t\t\t\t\t<h4 class=\"consultantsContent__h4\" tabindex=\"0\" title=\"Gunta Vespere\">\n\t\t\t\t\t\t\t\n\t\t\t\t\t\t\tGunta Vespere\n\t\t\t\t\t\t<\/h4>\n\t\t\t\t\t\t<p class=\"consultantsContent__p\" tabindex=\"0\" title=\" Project manager\">Project manager<\/p>\n\t\t\t\t\t\t<div class=\"consultantsContent__contact\">\n\t\t\t\t\t\t\t<div class=\"consultatns__phones\"><a href=\"tel:26645146\" title=\"Gunta Vespere kontaktt\u0101lrunis\" class=\"consultantsContent__contact-link\">26645146<\/a><\/div>\n\t\t\t\t\t\t\t<a href=\"mailto:gunta.vespere@altum.lv\" title=\"Gunta Vespere e-pasta adrese\" class=\"consultantsContent__contact-link\">gunta.vespere@altum.lv<\/a>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div> \n\t\t\t\t<div class=\"consultantsContent__elem\">\n\t\t\t\t\t\n\t\t\t\t\t<div class=\"consultantsContent__info\">\n\t\t\t\t\t\t<h4 class=\"consultantsContent__h4\" tabindex=\"0\" title=\"Ilona Maskale\">\n\t\t\t\t\t\t\t\n\t\t\t\t\t\t\tIlona Maskale\n\t\t\t\t\t\t<\/h4>\n\t\t\t\t\t\t<p class=\"consultantsContent__p\" tabindex=\"0\" title=\" Project manager\">Project manager<\/p>\n\t\t\t\t\t\t<div class=\"consultantsContent__contact\">\n\t\t\t\t\t\t\t<div class=\"consultatns__phones\"><a href=\"tel:26402655\" title=\"Ilona Maskale kontaktt\u0101lrunis\" class=\"consultantsContent__contact-link\">26402655<\/a><\/div>\n\t\t\t\t\t\t\t<a href=\"mailto:ilona.maskale@altum.lv\" title=\"Ilona Maskale e-pasta adrese\" class=\"consultantsContent__contact-link\">ilona.maskale@altum.lv<\/a>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div> \n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\n\t\t\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Altum&#8211; Land purchase with entitlement to of rent and buyback Land fund of Latvia Land fund of Latvia buys land Land Fund of Latvia buys land with the entity of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":8129,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"class_list":["post-12860","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Land purchase with entitlement to of rent and buyback - Altum<\/title>\n<meta name=\"robots\" content=\"index, follow, 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