Flashcards in 3Ws - CH 1 Deck (9)
The act or process of developing an opinion of value, an opinion of value.
Written statement independently and impartially prepared by a qualified appraiser setting forth an opinion of defined value of an adequately described property as of a specific date.
the right of government to take private property for public use upon the payment of just compensation.
the amount of loss for which a property owner is compensated when his or her property is taken...
What key requirements should be included in an appraisal ? (4 things)
- the uniform act
- CA code of civil procedures
- Caltrans right of way manual ch7
the uniform act
contains federal law and criteria for appraisals, setting min standards.
CA code of civil procedures
contains state eminent domain law
Caltrans right of way manual ch7
contains policy, procedure, and guidelines for completing appraisals.