Fundamentals of Separating Real Property, Personal Property, and Intangible Business Assets
Register
- Date
- September 29-30, 2026
- Time
- 8:00AM - 5:00PM (PST)
- Sponsor
- Southern California Chapter
- Location
- Caltrans
1750 E. 4th St.
Santa Ana, CA 92705
- Instructor
- Kerry M. Jorgensen, MAI
- Class Time
- 14 hours
- Exam Time
- 1 Hour
- Full Price
- $460.00
- AI Price
- $360.00
Enroll by September 14 and save $50!
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.
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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 | Start Date | Expire Date | State Code |
|---|---|---|---|---|---|---|---|---|
| AR | CE | 14 | 14 | Classroom | 11/20/2023 | 09/19/2027 | AI054 | |
| AR | QE | 15 | 14 | 1 | Classroom | 11/20/2023 | 11/19/2027 | AI054 |
| CA | CE | 14 | 14 | Classroom | 07/07/2023 | 07/06/2027 | 11754C216 | |
| CO | CE | 15 | 14 | 1 | Classroom | 02/24/2025 | 02/24/2028 | 2843 |
| CT | CE | 14 | 14 | Classroom | 04/09/2025 | 04/09/2028 | AAL.001386 | |
| DC | CE | 15 | 14 | 1 | Classroom | 02/29/2024 | 02/28/2026 | 4037 |
| GA | CE | 15 | 14 | 1 | Classroom | 01/02/2012 | 62237 | |
| GA | CE | 14 | 14 | Classroom | 01/01/2012 | 62236 | ||
| HI | CE | 15 | 14 | 1 | Classroom | 01/01/2024 | 12/31/2025 | 23-512 |
| HI | CE | 14 | 14 | Classroom | 01/01/2024 | 12/31/2025 | 23-512 | |
| IA | CE | 14 | 14 | Classroom | 01/22/2024 | 11/13/2025 | A518-1084 | |
| IA | CE | 15 | 14 | 1 | Classroom | 11/13/2023 | 11/13/2025 | A518- 2166 |
| ID | CE | 15 | 14 | 1 | Classroom | 09/29/2023 | 09/28/2027 | |
| IL | CE | 14 | 14 | Classroom | 12/26/2024 | 12/31/2026 | 575.001684 | |
| IN | CE | 15 | 14 | 1 | Classroom | 04/10/2015 | ||
| KS | CE | 15 | 14 | 1 | Classroom | 04/08/2025 | 12/31/2025 | 623.C25.N |
| KY | CE | 15 | 14 | 1 | Classroom | 05/31/2025 | 06/30/2026 | |
| LA | CE | 14 | 14 | Classroom | 01/01/2024 | 12/31/2025 | A0199 | |
| MA | CE | 15 | 14 | 1 | Classroom | 10/29/2025 | 10/15/2027 | 00120233 |
| MD | CE | 15 | 14 | 1 | Classroom | 08/22/2023 | 12/31/2026 | |
| MI | CE | 14 | 14 | Classroom | 03/25/2024 | 12/15/2026 | 20 - 952457 | |
| MN | CE | 13 | 13 | Classroom | 04/01/2024 | 03/31/2026 | ||
| MN | CE | 14 | 13 | 1 | Classroom | 04/01/2024 | 03/31/2026 | |
| MO | CE | 14 | 14 | Classroom | 07/01/2024 | 06/30/2026 | ||
| MS | CE | 14 | 14 | Classroom | 05/27/2024 | 05/26/2026 | MAB #49448 | |
| MT | CE | 15 | 14 | 1 | Classroom | 12/01/2023 | 09/05/2026 | REA-CEC-REC-16944 |
| MT | CE | 14 | 14 | Classroom | 12/01/2023 | 09/05/2026 | REA-CEC-REC-16944 | |
| NC | CE | 14 | 14 | Classroom | 01/01/2025 | 12/31/2025 | 1953 | |
| NE | CE | 14 | 14 | Classroom | 11/01/2021 | 10/18/2026 | 2111401.02 | |
| NH | CE | 15 | 14 | 1 | Classroom | 10/17/2025 | 10/17/2027 | |
| NJ | CE | 15 | 14 | 1 | Classroom | 07/16/2025 | 07/16/2030 | 2025-3036 |
| NM | CE | 15 | 14 | 1 | Classroom | 05/25/2025 | 05/25/2028 | 4548 |
| NV | CE | 14 | 14 | Classroom | 08/01/2025 | 07/31/2026 | CE.0009744-A | |
| NY | CE | 14 | 14 | Classroom | 01/01/2025 | 12/31/2025 | A3836 | |
| OH | CE | 14 | 14 | Classroom | 01/01/2025 | 12/31/2025 | 084502802A 25 | |
| OK | CE | 14 | 14 | Classroom | 07/11/2025 | 07/11/2028 | 870 | |
| OR | CE | 15 | 14 | 1 | Classroom | 06/25/2024 | 06/25/2027 | APIN-C-0624-9033 |
| PA | CE | 14 | 14 | Classroom | 07/09/2025 | 07/09/2028 | ||
| SC | CE | 15 | 14 | 1 | Classroom | 09/01/2024 | 08/31/2026 | AC . 1202 |
| SD | CE | 15 | 14 | 1 | Classroom | 01/12/2024 | 11/14/2026 | SD 878 CE |
| TN | CE | 14 | 14 | Classroom | 12/01/2023 | 11/30/2025 | 1538 | |
| TX | CE | 15 | 15 | Classroom | 08/07/2025 | 08/31/2027 | 45136 | |
| UT | CE | 15 | 14 | 1 | Classroom | 03/01/2024 | 02/28/2026 | AC240212 |
| UT | CE | 14 | 14 | Classroom | 03/01/2024 | 02/28/2026 | AC240211 | |
| VT | CE | 15 | 14 | 1 | Classroom | 04/02/2025 | 04/02/2029 | CA-285805 |
| WA | CE | 15 | 14 | 1 | Classroom | 06/02/2025 | 06/02/2028 | A25017152 |
| WI | CE | 15 | 14 | 1 | Classroom | 09/27/2011 | REA 3654 | |
| WV | CE | 14 | 14 | Classroom | 04/22/2023 | 04/26/2026 | ||
| WY | CE | 15 | 15 | Classroom | 01/30/2023 | 02/12/2026 | ||
| WY | CE | 15 | 14 | 1 | 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.)
Pre-Class Assignment: Homework Reading List—MUST be completed BEFORE the first day of class (PDF).
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
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
Pricing Options
| Rate | Full Price | AI Price |
|---|---|---|
| Standard
Today thru 09/14/2026 |
$460.00 | $360.00 |
| Late
After 09/15/2026 |
$510.00 | $410.00 |
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