2018 – VOLUME 62 – BOOK 4Entries appear in original language

Disclaimer: The opinions expressed on the AIC exchange are those of the authors and do not reflect the opinions or positions of AIC. Readers are encouraged to discuss the ideas and contents of those blog/articles on-line and to share their own opinions through the comment section below.

Cannabis legalization: Caution required when disclosing personal information in a report

With the recent implementation of cannabis legalization in Canada, Appraisal Institute of Canada (AIC) Members must be aware of their obligations and responsibilities under the Canadian Uniform Standards of Professional Appraisal Practice (CUSPAP) and the Personal Information Protection and Electronic Documents Act (PIPEDA) regarding disclosure of an owner/occupant’s personal information in a report. CUSPAP requires Members to disclose any and...

Should contamination remediation costs be deducted from an expropriation compensation payment?

LEGAL MATTERS By John Shevchuk, Barrister & Solicitor, C.Arb, AACI(Hon.) When a person has his or her property interests expropriated, should the expropriating party be able to deduct actual or estimated costs to remediate contamination? American courts have arrived at different conclusions on the question. It appears that Canadian courts have not yet expressly considered the point. The purpose of this...

Who can provide professional assistance

PROFESSIONAL PRACTICE MATTERS Submitted by the Members of the Professional Practice Committee In response to the ever-changing face of the real property valuation industry, in August 2018, the Appraisal Institute of Canada (AIC) issued a rare mid-cycle change to the Canadian Uniform Standards of Professional Appraisal Practice (CUSPAP) 2018 in order to address professional assistance provided by AIC Members as well...

The Future is Bright – Kim Passmore, AACI, P.App: Combining ambition with a dynamic, open-minded approach to the appraisal profession

What motivated you to choose the appraisal profession? I found out about the appraisal profession while working towards my Bachelor of Commerce degree in Real Estate and Housing at the University of Guelph. Jane Londerville, who launched the real estate appraisal program at the University of Guelph, introduced me to the University of British Columbia’s Post Graduate Certificate in Real...

Is this a bubble and is it bursting?

September 15, 2018 marked the 10-year anniversary of the filing for bankruptcy of Lehman Brothers, an event that many mark as the beginning of the Global Financial Crisis. With that anniversary came the obligatory reporting that we are in the midst of another asset bubble and that this cycle is ready for a downturn/recession. The conventional wisdom can be summarized...

Going-concern appraisals vs. business valuations

The opinions expressed on the AIC exchange are those of the authors and do not reflect the opinions or positions of AIC.   Readers are encouraged to discuss the ideas and contents of those blog/articles on-line and to share their own opinions through the comment section below. Real property appraisers often value special-use properties, hotels and seniors care facilities, to name...

Property rights: where do they come from and what do they mean?

By George Canning, AACI, P.App Since real estate valuation is pertinent to the future benefits of property rights, it is important for appraisers to understand the source of those rights and their implications for the appraisal process. Our examination begins with the Magna Carta, signed in England in 1215. Before William the Conqueror invaded in 1066, England had Common Law in...

Getting to know AIC’s 0518 forms

Professional Practice Matters - Getting to know AIC’s 0518 forms By Thomas Fox AACI, P.App, Volunteer Chair, Professional Practice Committee As the country’s leading real property valuation association, the Appraisal Institute of Canada (AIC) is always looking for new ways to fulfill our mission of promoting and supporting our Members in providing high-quality property valuation and advisory services for the benefit of...

Rebecca McClure on CRA Diversification

A Professional Appraiser’s Perspective - Rebecca McClure on CRA Diversification Can you give us a brief background on your education and career path to this point in time? RM: I joined the Appraisal Institute of Canada (AIC) in 2004. My aunt, Linda Sherrett, who has been a Member of the AIC since the early 1980s (currently retired), offered me an opportunity to...

Legal Privilege and Its Application to Appraisers

LEGAL PRIVILEGE AND ITS APPLICATION TO APPRAISERS  By Shane Rayman, Partner; and  Conner Harris, Lawyer; Rayman Beitchman LLP Within the context of the litigation process, one of the most important issues for the parties to the litigation is the scope of privilege and its impact on the production of documents. This concept impacts the work of independent expert witnesses, such as...