Winner of the George L. Schmutz Award
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Real Estate Valuation in Litigation, second edition, provides appraisers and attorneys with a comprehensive overview of real estate law. Because eminent domain valuation assignments form the bulk of appraisers' litigation work, condemnation appraisal is the focus of this text.
Early chapters explore the litigation environment, the relationship between the appraiser, the attorney, and the client, and the courts' attitude toward appraisal testimony. Just compensation is discussed in relation to case law and the appraisal definition of market value. Identification of the larger parcel, the determination of highest and best use, and the strengths and weaknesses of each approach to value are explored in terms of the persuasiveness with which these issues can be presented before a judge or jury.
Later chapters cover the treatment of damages, general and special benefits, and easements as well as the factors to be considered in inverse condemnations, regulatory takings, and leasehold valuations. Specific instructions are provided to help readers write up their reports, prepare for trial, and testify in court. The book concludes with a discussion of appraisals for other types of litigation and appropriate standards of practice.