Legal Seminar Preview #1

Here's a sneak peek at some of the things you'll learn by attending the 2016 IAAO Legal Seminar. If you've already signed up, you're ahead of the game. If not, sign up soon. You won't want to miss it. We'll have more previews in the coming weeks, so stay tuned!

Separating Real Estate from Business Enterprise Value: Nursing Home

Presented by:
Allen A. Lefkovitz, Esq., Chicago, IL
John VanSanten, MAI, Chicago, IL
David Aronin, Chicago, IL

In this session, presenters will discuss why the most important long term issue is how to segregate the total business assets. The discussion will focus on the best methodology to use when valuing these special use properties, detail why the cost approach doesn’t work and why the income approach is the most reliable method.

The presentation will explain that without the license to operate a nursing home, hotel or continuing care retirement community business out of the real estate there is no other use. The presentation will also describe what happens when the business closes and the special market the reuse of the property creates.

The program will also point out the uniformity of assessments and why these types of properties are disproportionately valued higher. The view point of the owner or developer will also be discussed, focusing on what they are looking for when they invest in these types of properties and how these key components influence value.

The 36th Annual IAAO Legal Seminar is scheduled for December 10-11 at the Hyatt Regency Boston. The IAAO Legal Seminar offers the unique perspective of members who are primarily involved in legal issues. The seminar presents substantive and procedural developments in law that affect assessments and valuation.