08260 - Rural Appraisal

Learning outcomes

Students attending this course have a good grounding in mathematics, economics, and statistics and a comprehensive understanding of the agricultural and food production system. These essential knowledge and skills are acquired through the rigorous instruction delivered during the initial two years of the program.

Course contents

Prerequisites:

The student enrolling in this course should have a solid foundation in mathematics, economics, and statistics, as well as knowledge of the agricultural and agri-food production system. These skills and competencies are acquired through the courses offered during the first two years of the program.

Course Syllabus

1. GENERAL APPRAISAL (28 hours)

a. Contents, purposes, and methods of appraisal

i. Estimation criteria

ii. Estimation procedures

iii. Professional ethics

iv. International valuation standards

b. Appraisal of rural properties

i. Real estate market

ii. Comparative market analysis

iii. Income capitalization approach

iv. Complementary value estimation

c. Appraisal of rural buildings

i. Buildings for agricultural activities

ii. Buildings in need of renovation

d. Appraisal of fruit tree crops

i. Cycles and production systems for fruit trees

ii. Mixed tree systems

iii. Specialized tree systems

e. Appraisal of hanging fruits

f. Elements of financial calculation

i. Capital and interest

ii. Simple interest

iii. Compound interest

iv. Periodicity

Competency Goals:

The student understands the main criteria and procedures for appraising rural properties and the legal and social context in which these properties are involved. They can determine the market value of rural properties, rural buildings, and fruit orchards.

SPECIAL APPRAISAL (32 hours)

a. Evaluation of agricultural businesses

i. Information base

ii. Asset-based approach

iii. Income-based approach

iv. Combination approach

b. Technical consulting and arbitration

i. Dispute resolution

ii. Legal recourse

iii. Arbitration or compromise

c. Appraisal related to expropriation for public use

i. Procedural aspects

ii. Evaluation criteria for expropriation compensation

iii. Additional compensations

iv. Temporary occupation

d. Appraisal of land easements

i. Regulatory references

ii. Compulsory water supply easement

iii. Other easements governed by civil law

e. Evaluation of land improvements

i. Assessing the feasibility of land improvement projects

ii. Estimation of compensation for improvements made on others' land

iii. Financial evaluation of investments

f. Right of usufruct and bare ownership

i. Estimation of the value of usufruct rights

ii. Estimation of the value of bare ownership

g. Appraisal of damages

i. Insurable damages

ii. Fire damages

iii. Damages to fruit crops

iv. Pollution damages

v. Hail damages

h. Bail bond appraisals

i. Appraisals related to successions and divisions

i. Regulatory references

ii. Determining the estate mass

iii. Calculating rightful shares

iv. Formation of actual shares

j. Land cadastre

i. Purposes and structure of the Cadastre

ii. Cadastre documents and practices

Competency Goals:

The student develops professional skills that can be immediately and practically applied in the field of legal appraisal for rural properties, meeting the most common practical and legal requirements.

Readings/Bibliography

Gallerani V., Zanni G. e Viaggi D. (2011): Manuale di Estimo, Seconda Edizione, Milano, McGraw-Hill. (Chapters: 1, 2, 3, 4, 6, 7, 11, 12, 13, 14, 15, 16, 17, 18, 25, 27)

Class notes

Teaching methods

The course is divided into two teaching units that include classroom lectures alternating with exercises to apply the learned concepts, seminars, and the study of case studies.

The acquisition of knowledge and understanding will be constantly monitored during classroom lectures through continuous interaction between the teacher and students. The interaction between the teacher and students, which will involve discussing topics covered in the course and their relevance to current issues related to the discipline, aims to promote the development of independent judgment and improve communication skills.

Through practical exercises, the ability to apply acquired knowledge to common appraisal cases in rural estimation will be assessed.

Considering the nature of the activities and teaching methods adopted, participation in this educational activity requires all students to complete Modules 1 and 2 on safety in study places [https://elearning-sicurezza.unibo.it/] in e-learning mode prior to the course.

Assessment methods

Assessment is carried out through a single final examination, consisting of an oral interview lasting approximately 25 minutes. The examination results in a mark expressed out of thirty.

During the oral interview, students will be asked one question for each of the two teaching units of the course; each question must be answered at least sufficiently. An additional question concerning either financial mathematics or the land cadastre will form an integral part of the examination and complete it. In determining the final mark, the three questions will be given equal weight.

No technical manuals, notes, textbooks, IT tools, generative Artificial Intelligence applications, or calculation aids are required or permitted during the examination.

Students will be expected to demonstrate not only knowledge of the topics covered in the course, but also the ability to connect the different topics, appropriate command of technical and disciplinary terminology, and the aptitude to solve appraisal-related problems.

Assessment will be graded according to the following criteria:

• limited or mainly mnemonic preparation, with analytical and connection-making skills emerging only with the support of the teacher, and with an overall correct use of disciplinary language, will result in a mark between 18 and 21/30;
• adequate preparation on the main topics of the course, together with the ability to apply knowledge to simple cases and with correct exposition, will result in a mark between 22 and 25/30;
• broad and well-structured preparation, with good ability to connect topics, autonomy in the analysis of appraisal problems, and appropriate use of technical terminology, will result in a mark between 26 and 29/30;
• complete and in-depth preparation, together with full conceptual and terminological command, critical analysis skills, autonomous ability to connect course contents, and rigorous argumentation, will result in a mark of 30/30 or 30/30 with honours.

With regard to assessment, the use of generative Artificial Intelligence is prohibited. Any use of generative AI constitutes a breach of academic integrity.

The dates, times and locations of examinations are published on the degree programme website. Students must register for examination sessions through the AlmaEsami web application: https://almaesami.unibo.it/

Students with temporary or permanent disabilities or specific learning disorders are advised to contact the University office responsible in good time (https://site.unibo.it/studenti-con-disabilita-e-dsa/en ). The office will propose any necessary adaptations to the students concerned; such adaptations must in any case be submitted to the lecturer for approval at least 15 days in advance. The lecturer will assess their appropriateness also in relation to the learning outcomes of the course.

Teaching tools

Slide projector

Case studies

Office hours

See the website of Rino Ghelfi