Basically there are three types of property: tangible real property, tangible personal property, and intangible property.
Real property is defined as all the interests, benefits, rights and encumbrances inherent in the ownership of physical real estate.
There are several specialties in real property: urban, residential, rural, timber and ad valorem (property tax).
Appraisals (valuations) provided in real property include services for use in acquisition and disposition, lending, insurance, estate taxes, property taxes, and eminent domain (condemnation). Also specific real property interests, such as leaseholds, can be valued.

The following document is a paper developed by several appraisers including the RPC member Charles Warren, ASA. It is written for consideration before The Workshop on Corridor Valuation Methods and Right-of-Way Fee Schedules U.S. Bureau of Land Management (BLM) and U.S. Forest Service (USFS) at the Phoenix Park Hotel, 520 North Capitol Street, N.W., Washington, D.C. to be held December 4, 2001.

This paper is posted on ASA’s Real Property Webpage to solicit comments from ASA appraisers with an interest in this subject. Please direct your comments and discussion to: Charles Warren, ASA or/and Wayne Lusvardi.

The Capitol Hill Declaration on Corridor Valuation: An Appeal for a Paradigm Shift from Monopolistic to Market Corridor Valuation Methods And Federal Rights-of-Way Rent Schedules