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Easement Valuation
403 – Easement Valuation: Specific, practical methods and procedures to measure damages and the value of a property, before and after the imposition of an encumbrance.
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Course Number:
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C403
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Course Title:
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Easement Valuation
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Course Level:
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Intermediate
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Course Length:
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1 day – 8 AM to 5 PM
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IRWA Credits:
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8 QEU / CEU
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AQB Credits:
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The Appraiser Qualifications Board (AQB) has reviewed and approved this course for the following: 8 hours CE through 05/05/2025. Approval # 56224
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| Prerequisites: |
IRWA Course 400 “Principles of Real Estate Appraisal” (or equivalent)
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Course Description
This course is taught as a practical, hands-on course. Participants will learn specific methods and procedures to measure and value property before and after an encumbrance, as well as damages, if any result.
Credentialing
- New SR/WA: An intermediate elective course that can be applied towards the RWP certification or SR/WA designation.
- Industry: An intermediate required course for the the Oil & Gas Pipeline and Electric & Utilities pathways for the SR/WA designation.
- Specialist: An intermediate elective course that can be applied towards the R/W-AC certification.
Topics
- The nature of easements, bundle of rights, easements v. licenses en gross v. appurtenant, creation/duration, residuals and reversion interests
- The two approaches to valuation: Before and After (Federal Rule), value of the art taken plus damages (State Rule)
- Steps in the appraisal process (State Rule): how to value the whole larger parcel: when the taking is typical of the whole; when the taking is not typical of the whole; how to value the part taken; use of paired sales; the "Three R’s"
- Damages, severance, cost-to-cure, change in highest and best use, increased cost of operation, restraints upon future development
- How to value temporary easements
- Appraisal of special easements, scenic, slope, flood, flowage, air rights, and others
Course Tuition includes
Required Material
Who should take this course
This course is designed for right of way professionals who are in the appraisal field.
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