REMRPLV-Rural Property Law and Valuation

Module Provider: Real Estate and Planning
Number of credits: 20 [10 ECTS credits]
Level:7
Terms in which taught: Spring term module
Pre-requisites:
Non-modular pre-requisites:
Co-requisites:
Modules excluded:
Current from: 2023/4

Module Convenor: Mrs Angela Cropley
Email: a.cropley@henley.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 prepare students for providing advice on agricultural/rural law and valuation issues in professional practice. It is largely based on the law as applied in England and Wales.

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:

Upon 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. 


• Compare 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. 

Additional outcomes:

The module aims to develop students’ analytical skills, and their ability to apply these to legal and valuation scenarios and communicate 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 

• The objectives and aspirations of owners of different investment interests in agricultural land 

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

Brief description of teaching and learning methods:

One two-hour lecture per week, 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 tutorials and seminars. 

Summative assessment- Examinations:

Two-hour written examination (50%)

Summative assessment- Coursework and in-class tests:

One written assignment of 2,500 words (50%). Submission Week 8 Spring term 

Formative assessment methods:

In-class case studies will provide students with the opportunity to apply their learning to real-life scenarios, and to receive informal feedback as to their understanding of core principles and concepts.

Penalties for late submission:

Penalties for late submission on this module are in accordance with the University policy. Please refer to page 5 of the Postgraduate Guide to Assessment for further information: http://www.reading.ac.uk/internal/exams/student/exa-guidePG.aspx

Assessment requirements for a pass:

The pass mark for this module is 50%.

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):

1) Required text books: £40

Last updated: 30 March 2023