New Appraisal Institute Book Provides Insight Into Litigation Valuation

Litigation valuation is a fascinating discipline that offers qualified real estate appraisers a wide range of opportunities, according to a new book by the nation’s largest professional association of real estate appraisers. Applications in Litigation Valuation: A Pragmatist’s Guide, published by the Appraisal Institute, is intended to help appraisers who are new to litigation valuation or have experience, but want to expand their practice. “Litigation valuation is undeniably an interesting and rewarding discipline of real property appraisal,” Appraisal Institute President Sara W. Stephens, MAI, wrote in the book’s foreword. “Most people dread the possibility of being called to appear in court, but many appraisers seek out assignments that will put them on the front lines of disputes between condemning authorities and property owners, spouses in divorce proceedings, or other parties involved in contentious legal situations.” Applications in Litigation Valuation: A Pragmatist’s Guide, compiled by authors Jeffrey A. Johnson, MAI, and Stephen J. Matonis, MAI, MRICS, provides a compilation of case studies that allows professionals with an assignment in litigation (such as a lawyer, an experienced appraiser or possibly a person new to the field of litigation valuation) to develop a basic understanding of the real estate valuation principles and techniques for various litigation assignments by seeing how other appraisers have handled these scenarios. Actual appraisal litigation assignments covered in the book include eminent domain and condemnation, title issues, environmental contamination and taxation. The book also presents an overview of the fundamentals of litigation appraisal, including a discussion of the appraiser’s engagement, execution of the assignment and expert testimony.