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

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

Acquired Skills:

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

Acquired Skills:

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

The learning assessment is done through a single final examination, consisting of an average 25-minute oral interview. During this examination, the student will be asked a question for each of the two educational units, to which the student must provide a sufficient response. An additional question related to the financial calculation or land cadastre will be an integral part of and complete the examination. In formulating the final assessment, the weight of the three questions will be considered equivalent.

To complete the examination, technical manuals or calculation aids are unnecessary and, therefore, not allowed.

The student must demonstrate knowledge of the topics covered and the ability to make connections and solve appraisal-related problems.

The examination sessions' dates, times, and locations are published on the course website.

To register for the examinations, the web application AlmaEsami must be used.

https://almaesami.unibo.it/

Teaching tools

Slide projector

Case studies

Office hours

See the website of Rino Ghelfi