Valuation of interest in property has been a long standing one in history. It is as old as creation and it took its genesis from man’s basic ownership and use of property. Valuation is a corner-stone in the real estate profession. It consists of the consideration of the productive rights and benefits of ownership (legal concept) as enhanced by the physical structure and in the context of the prevailing economic environment. The Fulani man regards land as life while the Ibo man sees land as the greatest asset a father can leave behind for his children. The law sees land as inclusive of all structures upon it. In essence what is valued is the interest in the property with a view of red
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