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In the field of real estate appraisal, extraordinary assumptions and hypothetical conditions are two closely related types of assumptions which are made as predicating conditions of an appraisal problem. Under the Uniform Standards of Professional Appraisal Practice (USPAP), they are two of the assignment conditions on which an appraisal assignment is predicated, the others being general assumptions, laws & regulations, supplemental standards, jurisdictional exceptions, and other conditions affecting scope of work.〔Appraisal Standards Board, ''Uniform Standards of Professional Appraisal Practice 2008-2009 Edition'', The Appraisal Foundation, USPAP Scope of Work Rule, pg. U-13〕〔Stephanie Coleman MAI SRA, ''Scope of Work'', Appraisal Institute (2006) Chicago, IL, ISBN 0-922154-88-0, p. 44.〕 Making the distinction between the two is important when compiling or reporting appraisals in the United States or other jurisdictions where USPAP is considered the professional standard because USPAP has different specific disclosure requirements for each in an appraisal report and specifies different conditions under which each can be made.〔Stephanie Coleman MAI SRA, ''Scope of Work'', Appraisal Institute (2006) Chicago, IL, ISBN 0-922154-88-0, p. 46〕 An assumption is a statement or condition which is presumed or assumed to be true and from which a conclusion can be drawn. 〔(Google, Define: Assumption )〕 USPAP defines an assumption as "that which is taken to be true".〔Appraisal Standards Board, ''Uniform Standards of Professional Appraisal Practice 2008-2009 Edition'', The Appraisal Foundation, pg U-2 line 47〕〔''The Dictionary of Real Estate Appraisal, 4th Ed.'', (2002), The Appraisal Institute, ISBN 0-922154-72-4, p 21〕〔''Valuing Machinery and Equipment: The Fundamentals of Appraising Machinery and Technical Assets'', 2nd Ed., (2000), American Society of Appraisers, ISBN 0-937828-06-8, p. 556〕〔''The Appraisal of Real Estate'', 12th Ed., (2001), The Appraisal Institute, ISBN 0-9221546-7-8, p. 56〕 An extraordinary assumption is an assumption which if found to be false could alter the resulting opinion or conclusion.〔〔Appraisal Standards Board, ''Uniform Standards of Professional Appraisal Practice 2008-2009 Edition'', The Appraisal Foundation, pg U-3 l-75〕〔''The Dictionary of Real Estate Appraisal, 4th Ed.'', (2002), The Appraisal Institute, ISBN 0-922154-72-4, p. 106〕〔''Valuing Machinery and Equipment: The Fundamentals of Appraising Machinery and Technical Assets, 2nd Ed.'', (2000), American Society of Appraisers, ISBN 0-937828-06-8, p. 566〕 A hypothetical condition is an assumption made contrary to fact, but which is assumed for the purpose of discussion, analysis, or formulation of opinions.〔〔Appraisal Standards Board, ''Uniform Standards of Professional Appraisal Practice 2008-2009 Edition'', The Appraisal Foundation, pg U-3 l 82〕〔''The Dictionary of Real Estate Appraisal, 4th Ed.'', (2002), The Appraisal Institute, ISBN 0-922154-72-4, p. 141〕〔''Valuing Machinery and Equipment: The Fundamentals of Appraising Machinery and Technical Assets, 2nd Ed.'', (2000), American Society of Appraisers, ISBN 0-937828-06-8, p. 571〕 The distinction between the two lies in the potential veracity of the assumption. A ''hypothetical condition'' assumes a condition which is known to be contrary to fact whereas an extraordinary assumption assumes a condition or a fact which is merely unknown or uncertain. The results of an analysis involving any hypothetical conditions are known to not be reflective of what exists because the assumptions on which they are predicated are contrary to fact. The results of an analysis involving extraordinary assumptions are only potentially not reflective of what exists to the extent of the uncertainty underlying the assumptions on which the analysis or opinions are predicated.〔Stephanie Coleman MAI SRA, ''Scope of Work'', Appraisal Institute (2006) Chicago, IL, ISBN 0-922154-88-0, p. 112〕 ==Distinction with general assumptions and limiting conditions== The concept of assumptions is closely related to the concept of scope of work in the identification of the appraisal problem in the appraisal process. The determination of the scope of work appropriate to the needs of the client, the use of the appraisal results, and the expectations of the appraiser's peers frame the extent of the general assumptions and limiting conditions of the appraisal assignment.〔Stephanie Coleman MAI SRA, ''Scope of Work'', Appraisal Institute (2006) Chicago, IL, ISBN 0-922154-88-0, p. 49〕 An appraisal can involve the assumption or determination of a wide range of facts or conditions. The determination of the veracity of all of the various facts and conditions on which an appraisal may be predicated is typically beyond the scope of investigation conducted by an appraiser and may exceed the appraisers expertise or competence. A distinction is made between extraordinary assumptions and general assumptions which allows an appraiser to make certain assumptions without having to personally investigate and confirm all relevant facts.〔Stephanie Coleman MAI SRA, ''Scope of Work'', Appraisal Institute (2006) Chicago, IL, ISBN 0-922154-88-0, p. 61〕 A general assumption is a typical assumption of an appraisal.〔''The Dictionary of Real Estate Appraisal, 4th Ed.'', (2002), The Appraisal Institute, ISBN 0-922154-72-4, p. 124)〕 A limiting condition is a special condition that limits the use of an appraisal, primarily by specifying the intended use and intended users of the results and appraisal report.〔''The Dictionary of Real Estate Appraisal, 4th Ed.'', (2002), The Appraisal Institute, ISBN 0-922154-72-4, p. 166)〕 If an appraiser has a general expectation regarding certain conditions and has uncovered no indication which might call such assumptions into question, he can treat the assumption as a general assumption, and as a consequence not be required to meet the disclosure and analysis requirements of an extraordinary assumption or a hypothetical condition. :For example, an appraiser inspecting a house may not be qualified to detect a termite infestation without an extensive expert investigation. Depending on the scope of work expected by the users of the appraisal and the appraisal's limiting conditions, if the appraiser has not observed any indications of an infestation in his normal investigation, the appraiser may omit such an investigation and make a general assumption that the property is not infested with termites and not have to meet the analysis and reporting requirements of an extraordinary assumption. However, the limiting conditions and description of the scope of work would need to make it clear to the users of the report the extent of the appraiser's investigation of the subject property and that the focus of the appraiser's investigation was determination of characteristics relevant to valuation and not the explicit detection of termites which would be the purview of a termite or structural home inspector and probably beyond the expertise of the appraiser. The determination of the scope of work appropriate to the needs and expectations of the users of the appraisal results and the intended use of the appraisal drive the determination of the scope of work and scope of investigation appropriate to the appraisal problem and frame the extent to which the appraiser investigates the subject of the appraisal and the market. If in the course of investigation, inspection, or research the appraiser discovers evidence which might call particular assumptions into question, he may still have a further decision to make regarding the scope of work. Depending on the needs or expectations of the client, the appraiser may choose to continue to investigate the condition to determine its veracity or he may choose to continue to assume the veracity of the assumption despite indications to the contrary, in which case the assumption would be an extraordinary assumption and have to be reported as such. Limiting conditions may frame the appraisal problem in such a way that facts or conditions which are even known to be false do not have to be treated as hypothetical conditions. :For example, title to a property may be owned subject to a minor mechanics lien, but the appraiser may define the appraisal problem as involving the unencumbered fee simple interest and conduct the appraisal assignment under the limiting condition that the appraiser is not responsible for or qualified to investigate the details of title and not have to treat the supposition of the absence of the mechanics lien as a hypothetical condition. A statement of general assumptions and limiting conditions is often included in the discussion of the premises of the appraisal in an appraisal report for the appraiser's protection as well as for the information and protection of the client and third party users of the appraisal results.〔''The Dictionary of Real Estate Appraisal, 4th Ed.'', (2002), The Appraisal Institute, ISBN 0-922154-72-4, p. 124〕〔''The Dictionary of Real Estate Appraisal, 4th Ed.'', (2002), The Appraisal Institute, ISBN 0-922154-72-4, p. 166〕 General assumptions and limiting conditions are sometimes thought of as 'legalese' and 'boilerplate' for appraisal reports, but each assumption or condition must be reasonable and supportable in the context of the appraisal and must not conflict with the appraiser's other responsibilities such as the identification of extraordinary assumptions or hypothetical conditions.〔''The Appraisal of Real Estate'', 12th Ed., (2001), The Appraisal Institute, ISBN 0-9221546-7-8, p. 618〕 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Extraordinary assumptions and hypothetical conditions」の詳細全文を読む スポンサード リンク
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