Skip to Content (custom)

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

    More Info Register
    September 16-17, 2024 Lancaster, PA
    Date
    September 16-17, 2024
    Sponsor
    Keystone Chapter
    Location
    Lancaster County Association of Realtors
    1930 Harrington Drive
    Lancaster, PA 17601
    Instructor
    David C. Lennhoff, MAI, SRA, AI-GRS
    Class Time
    14 hours
    Exam Time
    1 Hour
    Full Price
    $450.00
    AI Price
    $350.00
    Enroll by September 16!
    View Pricing Options
    Course Description

    This two-day course provides the theoretical and analytical framework for separating the tangible and intangible assets of operating properties. Through discussion, lecture, readings, and case studies, you 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 is provided so you’ll become familiar with the terminology relevant to separating asset values. You’ll 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, you’ll learn about allocating real estate, personal property, and intangible asset values. (Note. This course 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.)

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

    AI CE Points
    Attend:
    150
    Attend & Pass Exam:
    200
    State Approvals
    State QE/CE Course & Exam Course Only Exam Only Delivery Format Approval Format Start Date Expire Date State Code
    AK CE 15 14 1 Classroom Classroom 10/21/2022 09/20/2025 18589
    AL CE 14 14 Classroom Classroom 10/01/2022 09/30/2024 C02603
    AR CE 14 14 Classroom Classroom 11/20/2023 11/19/2025
    AR QE 15 14 1 Classroom Classroom 11/20/2023 11/19/2025
    CA CE 14 14 Classroom Classroom 07/07/2023 07/06/2027 11754C216
    CO CE 14 14 Classroom Classroom 10/21/2021 10/21/2024
    CO CE 15 14 1 Classroom Classroom 10/21/2021 10/21/2024
    CT CE 15 14 1 Classroom Classroom 03/10/2022 03/10/2025 AAL.000904
    DC CE 15 14 1 Classroom Classroom 02/29/2024 02/28/2026 4037
    FL CE 14 14 Classroom Classroom 10/17/2023 10/16/2025 0008907
    GA CE 15 14 1 Classroom Classroom 01/02/2012 62237
    GA CE 14 14 Classroom Classroom 01/01/2012 62236
    HI CE 15 14 1 Classroom Classroom 01/01/2024 12/31/2024 23-512
    HI CE 14 14 Classroom Classroom 01/01/2024 12/31/2024 23-512
    IA CE 14 14 Classroom Classroom 01/22/2024 11/13/2025 A518-1084
    IA CE 15 14 1 Classroom Classroom 11/13/2023 11/13/2025 A518- 2166
    ID CE 15 14 1 Classroom Classroom 09/29/2023 09/28/2027
    IL CE 14 14 Classroom Classroom 01/01/2023 12/31/2024 575.001684
    IN CE 15 14 1 Classroom Classroom 04/10/2015
    KS CE 14 14 Classroom Classroom 01/01/2024 12/31/2024 187.C24.R
    KY CE 14 14 Classroom Classroom 07/01/2024 05/30/2025
    LA CE 14 14 Classroom Classroom 01/01/2024 12/31/2024 A0199
    MA CE 14 14 Classroom Classroom 10/21/2023 10/20/2025 10051220
    MD CE 15 14 1 Classroom Classroom 08/22/2023 12/31/2026
    MI CE 14 14 Classroom Classroom 03/25/2024 12/15/2026 20 - 952457
    MN CE 14 13 1 Classroom Classroom 04/01/2024 03/31/2026
    MN CE 13 13 Classroom Classroom 04/01/2024 03/31/2026
    MO CE 14 14 Classroom Classroom 07/01/2024 06/30/2026
    MS CE 14 14 Classroom Classroom 05/27/2024 05/26/2026 MAB #49448
    MT CE 15 14 1 Classroom Classroom 12/01/2023 09/05/2026 REA-CEC-REC-16944
    MT CE 14 14 Classroom Classroom 12/01/2023 09/05/2026 REA-CEC-REC-16944
    NC CE 14 14 Classroom Classroom 01/01/2024 12/31/2024 1953
    ND CE 14 14 Classroom Classroom 11/01/2021 10/21/2025 CE-221080S
    ND CE 15 14 1 Classroom Classroom 11/01/2021 10/21/2025 CE-221080S
    NH CE 15 14 1 Classroom Classroom 12/05/2023 09/15/2025
    NJ CE 15 14 1 Classroom Classroom 10/25/2011 2011-3073
    NM CE 14 14 Classroom Classroom 01/14/2022 12/10/2024 4030
    NV CE 14 14 Classroom Classroom 08/01/2023 07/31/2024 CE.0009744-A
    NY CE 15 14 1 Classroom Classroom 01/01/2024 12/31/2024 A3836-14
    OH CE 14 14 Classroom Classroom 01/01/2024 12/31/2024 084401904A 22
    OK CE 14 14 Classroom Classroom 12/03/2021 12/03/2024 870
    OR CE 15 14 1 Classroom Classroom 08/13/2021 08/31/2024 APIN-C-0821-8891
    PA CE 14 14 Classroom Classroom 10/28/2021 10/28/2024
    PR CE 15 14 1 Classroom Classroom 10/04/2023 12/31/2024 2 023-0928-1227
    RI CE 14 14 Classroom Classroom 02/01/2024 01/10/2025 REA.0002119-CE
    SC CE 15 14 1 Classroom Classroom 09/01/2022 08/31/2024 AC.1202
    SD CE 15 14 1 Classroom Classroom 01/12/2024 11/14/2026 SD 878 CE
    TN CE 14 14 Classroom Classroom 12/01/2023 11/30/2025 1538
    TX CE 15 14 1 Classroom Classroom 01/23/2023 01/31/2025 TX Provider #:10 Course #: 45136
    TX CE 15 15 Classroom Classroom 01/23/2023 01/23/2025 TX Provider #:10 Course #:45136
    TX CE 14 14 Classroom Classroom 01/23/2023 01/31/2025 TX Provider #:10 Course #: 36771
    UT CE 15 14 1 Classroom Classroom 03/01/2024 02/28/2026 AC240212
    UT CE 14 14 Classroom Classroom 03/01/2024 02/28/2026 AC240211
    VT CE 14 14 Classroom Classroom 03/09/2021 03/09/2025
    WA CE 15 14 1 Classroom Classroom 11/12/2021 11/12/2024 A21034109
    WI CE 15 14 1 Classroom Classroom 09/27/2011 REA 3654
    WV CE 14 14 Classroom Classroom 04/22/2023 04/26/2026
    WY CE 15 15 Classroom Classroom 01/30/2023 02/12/2026
    WY CE 15 14 1 Classroom Classroom 02/13/2023 02/12/2026 118
    Course Objectives
    • 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.

     


    Course Details

    Program Overview:
    Table of Contents and Overview
    Course Schedule
    Homework Reading List - MUST be completed BEFORE the first day of class

    Assignments:

     
    After you register for this class, please go to your Education and Events page for details on what you must complete BEFORE class begins. 

    To access your Education and Events page, log on to the Appraisal Institute website at https://ai.appraisalinstitute.org/eweb (click on the three horizontal lines to the left of the AI logo and select “My AI Account” from the drop-down menu).
     

    Equipment:
    A basic-function or financial calculator is required. You may use a financial calculator if you wish.

    Additional Information:

     Course Materials Include:

    • Course Handbook (345 pp.)
    • Homework Reading List (2 pp.)
    After you register for this class, please go to your Education and Events page for details on what you must complete BEFORE class begins. To access your Education and Events page, log on to the Appraisal Institute website at https://ai.appraisalinstitute.org/eweb (click on the three horizontal lines to the left of the AI logo and select “My AI Account” from the drop-down menu).
     
    You will be asked to clear the calculator’s memory before and after the examination. Only one calculator is permitted in the testing room. Examinees taking most AI exams may bring their own calculator to use during the exam. Laptops, cellular phones, tablets, iPads, wearable technology (smart watch, Apple Watch, Google Glass, etc.), and other devices that can store data or connect to the Internet are NOT permitted during the exam. In addition, all watches, wallets, bags, and purses must be removed and stored out of reach prior to taking the exam.

    Requirements:
    None specified

    Course Materials & Recommended Books
    Required Text:

    Recommended:

    Pricing Options
    Rate Full Price AI Price
    Standard
    Today thru 09/16/2024
    $450.00 $350.00
    Have Exam Questions?
    Event Information

    Doors open at 8:00 am

    Class begins at 8:30 am