Property Rights and the Real Estate Appraiser

BVResearch Pro
American Society of Appraisers Business Valuation Review™
Spring 2023 Volume 42, Issue 1 pp. 11-14
Barry J. Cunningham, PhD, ASA, MAI AI-GRS
intangibles, appraisal standards and regulations
cost approach, intangible assets, going concern, intangible, real estate


This article provides the business appraiser with a better understanding of how real estate appraisers think about property rights and the distinctions they make between fee simple and leased fee estates. It also discusses two areas where a property rights issue could lead to understating intangible assets in real estate centric entities. Two brief case studies are used to demonstrate where problems can arise and how to resolve them. This is a primer to foster more in-depth discussion in future papers from the appraisal community.
Property Rights and the Real Estate Appraiser
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