Credit Points 10

Legacy Code 201016

Coordinator Sharon Yam Opens in new window

Description This subject covers valuation codes laid down by statute and their application in compulsory acquisition and resumption of property. It also includes compensation valuation for compulsory acquisition, professional negligence, litigation, evidence, and alternative dispute resolution. Students will develop an understanding of professional liability and responsibility, and prepare for role as an expert witness.

School Business

Discipline Real Estate

Student Contribution Band HECS Band 4 10cp

Level Postgraduate Coursework Level 7 subject

Pre-requisite(s) MKTG 7028 AND
MKTG 7015

Restrictions

Students must be enrolled in a postgraduate Business program.

Learning Outcomes

On successful completion of this subject, students should be able to:

1. Apply the principles of property and related laws and valuation methods related to compensation and resumption;
2. Evaluate the process of land acquisition or resumption, and the concepts of market value, special value to the owner, injurious affection, severance, enhancement, disturbance and a loss of goodwill;
3. Apply the important court decisions in compensation valuation;
4. Examine the role of expert witnesses or a legal representative in compensation disputes;
5. Apply legal precedent and valuation concepts to interpret the amount of compensation payable on a compulsory taking.

Subject Content

1. Compulsory acquisition and procedures and related legal consideration, including native title
2. Heads of compensation ? market value, special value severance loss, injurious affection, disturbance and solatium
3. Compulsory acquisition ? valuation approaches
4. Compensation for easement acquisition
5. Goodwill and tax issues in compensation
6. Introduction to API practice requirements
7. Alternative dispute resolution
8. Rating Valuation
9. Professional liability