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in the easement area by others. An easement is an interest less than the fee estate, with the landowner
<br /> retaining full dominion over the realty subject only to the easement; the landowner may make any use
<br /> of the realty that does not interfere with the easement holder's reasonable use of the easement and is
<br /> not specifically excluded by the terms of the easement." (Interagency Land Acquisition Conference,
<br /> Uniform Appraisal Standards for Federal Land Acquisitions,Washington, D.C., 2000, p.63)
<br /> Fee Simple Estate (Title) — "Absolute ownership unencumbered by any other interest or estate, subject
<br /> only to the limitations imposed by the governmental powers of taxation, eminent domain, police power
<br /> and escheat." (Appraisal Institute, The Dictionary of Real Estate Appraisal, Fifth Edition, Chicago, 2010,
<br /> p. 78) Note: as an assignment condition all mineral rights are excepted from any fee simple property
<br /> interest appraised in this report.
<br /> Larger Parcel — "That tract, or those tracts, of land which possess a unity of ownership and have the
<br /> same, or an integrated, highest and best use. Elements of consideration by the appraiser in making a
<br /> determination in this regard are contiguity, or proximity, as it bears on the highest and best use of the
<br /> property, unity of ownership, and unity of highest and best use." (Interagency Land Acquisition
<br /> Conference, Uniform Appraisal Standards for Federal Land Acquisitions,Washington, D.C., 2000, p. 17)
<br /> Part Taken (Partial Taking) — "The taking of part of any real property interest for public use under the
<br /> power of eminent domain; requires the payment of compensation." (Appraisal Institute, The Dictionary
<br /> of Real Estate Appraisal, Fifth Edition, Chicago, 2010, p. 143)
<br /> Residue (Residue)—"'Residue' means that portion of any property which is not taken but which belongs
<br /> to the respondent, ..., and which has been used by, or is capable of being used by, the respondent,
<br /> together with the property actually taken,as one economic unit." (CJI—Civ.4th, 36:4)
<br /> Restoration Cost to Cure (Cost to Cure) — "In certain circumstances, damage to the residue may be
<br /> cured by remedial action taken by the owner.The cost to cure, however, is a proper measure of damage
<br /> only when it is no greater in amount than the decrease in the market value of the residue if left as it
<br /> stood. When the cost to cure is less than the severance damages if the cure were not undertaken, the
<br /> cost to cure is the proper measure of damage, and the government is not obligated to pay in excess of
<br /> that amount." (Interagency Land Acquisition Conference, Uniform Appraisal Standards for Federal Land
<br /> Acquisitions,Washington, D.C., 2000, p. 51)
<br /> Slope Easement — "A 'slope easement' is an easement reserved to the condemnor to use whatever
<br /> portion of the property is needed to provide lateral support for a roadbed, and those surface rights to
<br /> property which are not required for lateral support are retained by landowner for any usage which does
<br /> not interfere with condemnor's slope easement." (State Dept. of Highways v. Woolley, 696 P.2d 828,
<br /> Colo. App. 1984)
<br /> Temporary Easement — "An easement granted for a specific purpose and applicable for a specific time
<br /> period. A construction easement, for example, is terminated after the construction of the improvement
<br /> and the unencumbered fee interest in the land reverts to the owner." (Appraisal Institute, The
<br /> Dictionary of Real Estate Appraisal, Fifth Edition,Chicago,2010, p. 195)
<br /> Compensation due for a temporary easement is the reasonable rental value for the time the easement is
<br /> used. (State Dept. of Highways v. Woolley, 696 P.2d 828, Colo. App. 1984)
<br /> Bonnie Roerig & .associates, CCC RealEstate ,analysts - -Valuation Consultants
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