NEW VIDEO BY CEV GROUP SIMPLIFIES EASEMENT AND ADVERSE POSSESSION FOR IBBI VALUATION ASPIRANTS
A MUST-WATCH FOR PROPERTY VALUERS PREPARING FOR IBBI’S COMPREHENSIVE EXAMINATION
The Council of Engineers and Valuers (CEV Group) has recently unveiled a detailed educational video tailored specifically for professionals preparing for the IBBI Valuation Examination. This video explores two crucial legal concepts that all property valuers must understand—Easements under the Easement Act, 1882, and Adverse Possession under the Limitation Act, 1963.
These concepts are fundamental in understanding property rights and can have profound effects on a property’s value. For anyone pursuing a career in property valuation, mastering these concepts is not just recommended but essential for providing accurate and legally sound valuations.
Easements: Understanding the Rights of Use and Restriction
Easements allow one party to use a portion of another party’s property for a specific purpose, such as access to a road or the right to light. These rights, governed by the Easement Act, 1882, play a critical role in determining property values, as they can either enhance or limit a property’s potential. In the video, CEV Group offers real-life case studies that demonstrate how easement rights function and how valuers should account for them during property assessments.
For instance, if a property has a long-standing easement for a right of way, it could affect the property’s marketability or potential for development. Valuers must understand these nuances to make informed decisions.
Adverse Possession: The 12-Year Rule and Property Valuation
The video also covers the subject of Adverse Possession, where an individual may acquire ownership of land if they occupy it for a specified period under certain conditions, as outlined in the Limitation Act, 1963. This concept can drastically alter property ownership and must be factored into property valuation, especially when evaluating real estate with ambiguous ownership histories.
Through the use of real-world examples, the video clarifies how adverse possession claims can impact property rights and value. Valuers must be vigilant when assessing properties that may be affected by such claims, as they could influence legal ownership and, in turn, the value of the property.
Empowering IBBI Examination Aspirants
With this new video, CEV Group continues to demonstrate its commitment to supporting the next generation of property valuers. By breaking down these complex legal principles in an accessible format, the video aims to help candidates approach their IBBI examination with confidence and a deeper understanding of the legal frameworks that impact property valuation.
