Suprasurface rights - Study guides, Class notes & Summaries

Appraisal (ch.1) the act or process of developing an opinion of value What types of assignments use appraisals? (ch.1) Transfer of ownership Financing and credit Litigation Tax matters Investment Decisions The valuation process (ch.1) a systematic procedure that an appraiser employs to provide the answer to a client's question about the value of real property Steps of the Valuation Process (ch.1) Step 1 - Identification of the Problem Step 2 - Scope of Work Determi...

appraiser one who estimates officially the worth or value or quality of things appraisal practice a valuation service performed by an individual acting as an appraiser competency having adequate ability to perform an assignment and produce credible results identification of the problem the first step of valuation process, which includes six elements 1. client and any other intended user 2. intended use 3. type and definition value (a.k.a. purpose) 4. effective date...

Appraiser must perform by being: (4) Impartial or neutral, objective or fair minded, independent or autonomous, free of self interest Uncompetent Steps Inform the client about the identified issues before accepting assignment, complete steps to understand issues, disclose what actions were taken to gain the knowledge Land immobile, unique, finite supply, solid surface on earth, distinguished from water Suprasurface Rights right to undisturbed use and control of designate...

Appraisal Institute: Basic Appraisal Principles Verified 100% Correct!!

Appraisal Institute Basic Appraisal Principles Appraisal (ch.1) - ANS the act or process of developing an opinion of value What types of assignments use appraisals? (ch.1) - ANS Transfer of ownership Financing and credit Litigation Tax matters Investment Decisions The valuation process (ch.1) - ANS a systematic procedure that an appraiser employs to provide the answer to a client's question about the value of real property Steps of the Valuation Proce...

Appraisal Institute Basic Appraisal Principles Appraisal (ch.1) - ANS the act or process of developing an opinion of value What types of assignments use appraisals? (ch.1) - ANS Transfer of ownership Financing and credit Litigation Tax matters Investment Decisions The valuation process (ch.1) - ANS a systematic procedure that an appraiser employs to provide the answer to a client's question about the value of real property Steps of the Valuation Process (ch.1)...

Basic Appraisal Principles Exam Question Review Which of the following items are considered to be personal property? a. a tree orchard b. built-in cabinetry c. furniture d. interior light fixtures - ANS c Mayes owns a property buy has leased it to Jacobs. Which term describes Jacobs' right in the property? a. Fee simple interest b. Leased fee interest c. Leasehold interest d. Lessor interest - ANS c Real estate is best described as a. everything resting on t...

USPAP Uniform Standards of Professional Appraisal Practice recognized as the Industry standard in 1989 by FIRREA (Financial Institutions Reform, Recovery, and Enforcement Act) Competency Rule If not competent in property type hired to appraise, you must disclose that or turn it down. If another appraiser helps you, you must report that and who it was. Scope of Work how much and what kind of work needed... type of data to be searched in order to reach conclusions Chapter ...

USPAP Uniform Standards of Professional Appraisal Practice recognized as the Industry standard in 1989 by FIRREA (Financial Institutions Reform, Recovery, and Enforcement Act) Competency Rule If not competent in property type hired to appraise, you must disclose that or turn it down. If another appraiser helps you, you must report that and who it was. Scope of Work how much and what kind of work needed... type of data to be searched in order to reach conclusions Chapter ...