The term “real estate” in property rights as a peculiar and independently legal category in economic and civil law circulation appeared only after Restoration of Independence of the Republic of Latvia on 4th of May in 1990. The theories of real estate valuation exist in the world for a very long time. In the field of real estate valuation constantly occurs discussions and different solutions are being searched for. Regarding situations of valuations upon divided ownership rights, there are still present differences of experts’ opinions and also the point of view of the Association of the Real Estate Appraisers in Latvia are ambiguous. In Latvia, upon situations of divided ownership rights, there is a lack of a united real estate valuation system, therefore the current operating valuators in Latvia base their valuations on their professional experience and subjective opinions.