Fundamentals of Separating Real Property, Personal Property, and Intangible Business Assets

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 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 definitions allows participants to become familiar with the terminology relevant to separating asset values. The class will receive a review of the legal foundations for property rights, an introduction to the methodologies as well as the controversial and unresolved issues in this field. Finally, participants will learn about allocating real estate, personal property, and intangible asset values.

This course is in the Valuation of the Components of a Business Enterprise Professional Development Program. View this list of FAQs, which includes information regarding the courses you’ll need to complete the program successfully.

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

• 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.
• Identify the concepts, terminologies, and economic principles that underlie the asset claims to the revenue stream.
• Identify the terminology relevant to separating asset values and the roots of that terminology in accounting, business valuation, and valuation for financial reporting.
• Recognize the complexity of valuing a property as it relates to appraisal problems, separating asset values, and valuation for financial reporting.
• Identify the legal foundations for property rights.
• Recognize when it is necessary to work with a professional in another field, such as a business or tangible personal property valuer.
• Recognize the methodology.
• Objectively articulate the various issues that are considered controversial and unresolved.
• Identify the parallels between the business valuation methodologies and real property valuation.
  

• A Business Enterprise Value Anthology, 2nd ed.

Recommended:

• Intellectual Property: Valuation, Exploitation, and Infringement Damages by Gordon V. Smith and Russell L. Parr, Wiley & Sons
• A Business Enterprise Value Anthology, 2001 edition