In what situation would the obligations of USPAP apply?

The obligations of USPAP (Uniform Standards of Professional Appraisal Practice) apply during any type of appraisal assignment when legally required, making it essential for appraisers to adhere to these standards in a variety of situations. USPAP is designed to ensure that appraisals are conducted in a credible, consistent, and professional manner, thereby promoting confidence in the appraisal process across all types of properties and assignments.

Adhering to USPAP is crucial not only when appraisals are required by law, but also when applying ethical standards and practices in the appraisal profession. This framework applies to appraisals for various purposes, including but not limited to, taxation, financing, legal disputes, and sales.

While certain choices suggest limitations to government agencies, residential properties, or marketing services, USPAP is relevant broadly across all appraisal disciplines and not confined to a specific entity or property type. This universality underscores its importance in maintaining professionalism and integrity within the entire appraisal industry.