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

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    coins-stacked-in-front-of-house-model-and-toy-car-symbolize-financial-planning
    Date
    December 8-9, 2026
    Time
    8:30AM - 4:30PM (CST)
    Sponsor
    Wyoming, North Dakota, and South Dakota Chapter
    Location
    The Alliance
    1600 W Russell St
    Sioux Falls, SD 57104
    Instructor
    Kerry M. Jorgensen, MAI
    Class Time
    14 hours
    Exam Time
    1 Hour
    Full Price
    $345.00
    AI Price
    $290.00
    Enroll by December 4!
    View Pricing Options
    Classroom
    Topics:
    Business Valuation
    Continuing Education
    Designation Education
    Commercial
    Fundamentals of Separating Real Property, Personal Property, and Intangible Business Assets
    Event Information

    Location: The Alliance located at 1600 West Russell Street in Sioux Falls, SD.

    Dates of Class: December 8-9, 2026

    Registration begins at 8:00 a.m. Central Time (each day)

    Class begins at 8:30 a.m. Central Time (each day)

    Class ends at 4:30 p.m. Central Time (each day)

    Registration open until December 4, 2026.

    Registration will not be possible after December 4, 2026.

    !!! Check state approvals before registering to make sure states you are licensed in have approved the course/seminar.
    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
    pts
    Attend & Pass Exam:
    200
    pts
    State Approvals
    State QE/CE Course & Exam Course Only Exam Only Delivery Format Start Date Expire Date State Code
    AK CE 14 14 Classroom 09/21/2025 09/09/2028 18589
    AK CE 15 14 1 Classroom 09/21/2025 09/09/2028 18589
    AL CE 14 14 Classroom 09/10/2026 09/30/2028 C03252
    AL CE 15 14 1 Classroom 09/10/2026 09/30/2028 C03252
    AR CE 14 14 Classroom 09/15/2025 11/19/2027 AI054
    AR QE 15 14 1 Classroom 09/15/2025 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 03/01/2026 02/28/2028
    FL CE 14 14 Classroom 10/17/2025 10/16/2027 0008907
    GA CE 15 14 1 Classroom 09/23/2011 62237
    GA CE 14 14 Classroom 09/23/2011 62236
    HI CE 14 14 Classroom 01/01/2026 12/31/2027 25-127
    HI CE 15 14 1 Classroom 01/01/2026 12/31/2027 25-127
    IA CE 14 14 Classroom 02/10/2026 12/18/2027 A518-1084
    IA CE 15 14 1 Classroom 02/10/2026 12/18/2027 A518-2166
    ID CE 15 14 1 Classroom 09/29/2023 09/28/2027 5727
    ID CE 14 14 Classroom 09/29/2023 09/28/2027 5727
    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 03/19/2026 12/31/2026 C119-141
    KY CE 15 14 Classroom 07/01/2026 06/30/2027
    LA CE 14 14 Classroom 01/01/2026 12/31/2026 A0199
    MA CE 15 14 1 Classroom 10/15/2025 10/15/2027 00120233
    MD CE 15 14 1 Classroom 08/22/2023 12/31/2026
    MI CE 14 14 Classroom 12/15/2023 12/15/2026 20 - 952457
    MN CE 13 13 Classroom 04/01/2026 03/31/2028 1010004
    MN CE 14 13 1 Classroom 04/01/2026 03/31/2028 1010003
    MO CE 14 14 Classroom 07/14/2026 06/30/2028 2024000071
    MT CE 15 14 1 Classroom 08/26/2026 08/26/2029 REA-CEC-REC-20799
    NC CE 14 14 Classroom 01/01/2026 12/31/2026 1953
    NH CE 15 14 1 Classroom 10/17/2025 10/17/2027
    NH CE 14 14 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 08/01/2026 07/31/2027 CE.0009744-A
    NY CE 14 14 Classroom 01/01/2026 12/31/2026 A3836-14
    OH CE 14 14 Classroom 01/01/2026 12/31/2026 084601902A 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
    RI CE 14 14 Classroom 03/04/2026 03/04/2027 REA.0202719.CE
    SC CE 14 14 Classroom 09/01/2026 08/31/2028 20-607852
    SD CE 15 14 1 Classroom 09/08/2026 09/08/2029 SD90280C
    SD CE 14 14 Classroom 10/19/2026 10/19/2029 SD90290C
    TN CE 14 14 Classroom 11/12/2025 11/30/2027 1538
    TX CE 15 15 Classroom 08/07/2025 08/31/2027 TX#10 03114-ACE
    UT CE 14 14 Classroom 10/22/2026 10/31/2028 AC261016
    UT CE 15 14 1 Classroom 10/22/2026 10/31/2028 AC261017
    VA CE 15 14 1 Classroom 03/25/2026 03/31/2028
    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 15 14 1 Classroom 04/27/2026 03/25/2029
    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 12/04/2026     		$345.00 $290.00
    Have Exam Questions?
    Exam FAQ
    Event Information

    Location: The Alliance located at 1600 West Russell Street in Sioux Falls, SD.

    Dates of Class: December 8-9, 2026

    Registration begins at 8:00 a.m. Central Time (each day)

    Class begins at 8:30 a.m. Central Time (each day)

    Class ends at 4:30 p.m. Central Time (each day)

    Registration open until December 4, 2026.

    Registration will not be possible after December 4, 2026.

    !!! Check state approvals before registering to make sure states you are licensed in have approved the course/seminar.