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Fundamentals of Separating Real Property, Personal Property, and Intangible Business Assets Education Schedule (PDF)
Education Catalog (PDF)
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Students should check state approvals prior to registering for any Appraisal Institute program.

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Fundamentals of Separating Real Property, Personal Property, and Intangible Business Assets provides the theoretical and analytical framework for separating the tangible and intangible assets of real estate centric businesses. Through discussion, lecture, readings, and case studies, participants will apply the theory of the firm and the concept of economic profit to the solution of problems and case studies related to ad valorem taxation, eminent domain, loan underwriting, and transaction price allocation.

An overview of business valuation procedures and clarification of real estate and business valuation terminology will be provided so participants become familiar with the terminology relevant to separating asset values. The class will review the legal foundations for property rights, be introduced to the methodologies, and become aware of the controversial and unresolved issues in this field. Finally, participants will learn about allocating real estate, personal property, and intangible asset values.

Note. Fundamentals of Separating Real Property, Personal Property, and Intangible Business Assets contains diverse opinions regarding appraisal theory and applications. Neither this course nor the Appraisal Institute advocates a particular theory or method. Rather, each appraiser must come to his or her own conclusion based on the property type, local market customs, and scope of work.

Upon completion of the course, participants should be able to:
• Recognize operating properties as distinct from pure space properties
• Recognize when the scope of work requires the separation of various kinds of assets to produce a credible appraisal
• Understand the concepts, terminologies, and economic principles that underlie the asset claims to the revenue stream
• Understand the terminology relevant to separating asset values and the roots of that terminology in accounting, business valuation, and valuation for financial reporting
• Understand the complexity of valuing a property as it relates to appraisal problems, separating asset values, valuation for financial reporting
• Understand the legal foundations for property rights
• Identify when there is a need to work with a professional in another field, such as a business or tangible personal property valuers
• Recognize the methodology
• Objectively articulate the various issues that are considered controversial and unresolved
• Understand the parallels between the business valuation methodologies and real property valuations

Required text
A Business Enterprise Value Anthology, 2nd Ed. 

Note. This course is in the Valuation of the Components of a Business Enterprise Professional Development Program. Click here for a FAQ that includes information regarding the courses you'll need to successfully complete the program.

Program Overview
• Table of Contents and Overview (PDF)
• Schedule (PDF)
• Homework Reading List - MUST be completed BEFORE the first day of class. (PDF)

Recommended Text
• Intellectual Property: Valuation, Exploitation, and Infringement Damages by Gordon V. Smith and Russel L. Parr, Wiley & Sons

Ordering Information
To order books and other materials go to
our store

Please contact the sponsoring chapter for information on fees applicable to chapter programs.

A financial calculator is required. The accepted model used in the course is the HP-12C.

AI CE Credit for Designated Members, Candidates for Designation, and Practicing Affiliates
• Attend Only = 145 points
• Attend and Pass = 200 points

None Specified.

Who Should Enroll
• Appraisers
• Tax representatives
• Attorneys
• Property owners who deal with separating the value of real property from tangible and intangible personal property

Click Here for State Approvals

Class Schedule & Locations

05/28/2015 - 05/29/2015
Location: Chicago, IL
Click here for location details
Sponsor: Chicago
Contact: L.A. Anderson, (312) 616-9406
Instructor: Jorgensen, Kerry M., MAI

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