RE3RPLV-Rural Property Law and Valuation

Module Provider: Real Estate and Planning
Number of credits: 20 [10 ECTS credits]
Level:6
Terms in which taught: Autumn / Spring / Summer term module
Pre-requisites:
Non-modular pre-requisites:
Co-requisites:
Modules excluded:
Current from: 2021/2

Module Convenor: Mrs Angela Cropley
Email: a.cropley@reading.ac.uk

Type of module:

Summary module description:

An understanding of rural property law and valuation is key for rural surveyors. This module is designed to help prepare students for providing advice on rural landlord and tenant law and valuation issues in professional practice. It is largely based on the law as applied to property in England and Wales.

This module is delivered at the University of Reading only

Aims:

This module aims to provide students with an opportunity to explore the legal relationships between rural landlords and their tenants, and the financial, technical, and market context of the appraisal of rural property value. It aims to develop an understanding of the legal codes that apply to different rural property types (agricultural; residential; commercial), and investigates the agricultural land market, the factors that influence it, and the methods of valuation that apply to rural property.

Assessable learning outcomes:

On completion of this module, students should be able to: 

• Provide advice for owners and occupiers of let rural property by applying their understanding of the law to different situations. 


• Understand the different legal codes and their appropriateness to different types of agreement. 


• Comment critically on the agricultural land market, and on the factors that influence it and the values of agricultural land. 


• Demonstrate an understanding of the different methods of valuing rural property, including natural capital.

Additional outcomes:

The module also aims to develop students’ analytical skills, and their ability to apply them to legal and valuation scenarios and communicate their recommendations to third parties effectively. 

Outline content:

• Agricultural holdings legislation 


• Farm business tenancies


• Joint ventures 


• The legal framework governing residential property on the rural estate


• The legal framework governing commercial property on the rural estate 


• Assessment of rental values


• End of tenancy valuations


• The UK market for agricultural property 


• Methods of valuing the d ifferent interests in rural property, and the application of statute to various valuation situations and compulsory purchase 

Brief description of teaching and learning methods:

Lectures and /seminars, for which students will be expected to carry out preparatory reading. ?Students will be encouraged, through guided discussion, to develop their oral communication skills through examples in seminars.? 

Contact hours:

	Autumn	Spring	Summer
Lectures	20	20	2
Guided independent study:
Wider reading (independent)	79	79
Total hours by term	99	99	2
Total hours for module	200

Summative Assessment Methods:

Method	Percentage
Written exam	50
Written assignment including essay	50

Summative assessment- Examinations:

One two-hour examination. 

Summative assessment- Coursework and in-class tests:

The essay will have a guide length of 2,500 words. Submission will be Week 10/11 of the spring term. 

Formative assessment methods:

Students will work on scenario-based exercises in the classroom sessions to develop the skills they need for the examination.

A pre-seen scenario will be provided two weeks before the examination. 

Penalties for late submission:

The Support Centres will apply the following penalties for work submitted late:

• where the piece of work is submitted after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for that piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of five working days;
• where the piece of work is submitted more than five working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

The University policy statement on penalties for late submission can be found at: http://www.reading.ac.uk/web/FILES/qualitysupport/penaltiesforlatesubmission.pdf
You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.

Assessment requirements for a pass:

A mark of at least 40% overall.

Reassessment arrangements:

Reassessment will be by the same method as for the module’s original assessment requirements, subject to variation by the Examination Board where appropriate. 

Additional Costs (specified where applicable):

• Required textbook: £40


• Calculator: Casio FX-83GTx or FX-85GTx

Last updated: 8 April 2021