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USPAP 2018-2019 Edition
© The Appraisal Foundation
An appraiser must promote and preserve the public trust inherent in appraisal practice by observing the
highest standards of professional ethics.
An appraiser must comply with USPAP when obligated by law or regulation, or by agreement with the client
or intended users. In addition to these requirements, an individual should comply any time that individual
represents that he or she is performing the service as an appraiser.
Comment: This Rule specifies the personal obligations and responsibilities of the individual appraiser. An
individual appraiser employed by a group or organization that conducts itself in a manner that does not conform
to USPAP should take steps that are appropriate under the circumstances to ensure compliance with USPAP.
This ETHICS RULE is divided into three sections:
Conduct
,
Management
, and
Confidentiality
which apply to all
appraisal practice.
CONDUCT:
An appraiser must perform assignments with impartiality, objectivity, and independence, and
without accommodation of personal interests.
An appraiser:
• must not perform an assignment with bias;
• must not advocate the cause or interest of any party or issue;
• must not accept an assignment that includes the reporting of predetermined opinions and conclusions;
• must not misrepresent his or her role when providing valuation services that are outside of appraisal practice;
11
• must not communicate assignment results with the intent to mislead or to defraud;
• must not use or communicate a report or assignment results known by the appraiser to be misleading or
fraudulent;
• must not knowingly permit an employee or other person to communicate a report or assignment results that
are misleading or fraudulent;
• must not use or rely on unsupported conclusions relating to characteristics such as race, color, religion,
national origin, gender, marital status, familial status, age, receipt of public assistance income, handicap, or
an unsupported conclusion that homogeneity of such characteristics is necessary to maximize value;
• must not engage in criminal conduct;
• must not willfully or knowingly violate the requirements of the RECORD KEEPING RULE; and
• must not perform an assignment in a grossly negligent manner.
Comment: Development standards (1-1, 3-1, 5-1, 7-1 and 9-1) address the requirement that “an appraiser must not
render appraisal services in a careless or negligent manner.” The above requirement deals with an appraiser
being grossly negligent in performing an assignment which would be a violation of the Conduct section of the
ETHICS RULE.
If known prior to accepting an assignment, and/or if discovered at any time during the assignment, an appraiser
must disclose to the client, and in each subsequent report certification:
• any current or prospective interest in the subject property or parties involved; and
• any services regarding the subject property performed by the appraiser within the three-year period
immediately preceding acceptance of the assignment, as an appraiser or in any other capacity.
11 See Advisory Opinion 21,
USPAP Compliance
.
ETHICS RULE
See also
FAQ 10-31
FAQ
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