To which types of property does USPAP apply?

The Uniform Standards of Professional Appraisal Practice (USPAP) applies to both tangible and intangible property, making the choice of "both tangible and intangible property" correct. Tangible property includes physical assets like real estate, machinery, and personal belongings that have a physical presence. Intangible property, on the other hand, refers to non-physical assets, such as patents, trademarks, and certain types of rights. USPAP provides a framework and set of standards that appraisers must follow when valuing all types of property, ensuring consistency, credibility, and professional integrity across various appraisal contexts. This broad applicability is essential for the diverse fields in which appraisal services are utilized, allowing appraisers to maintain high professional standards whether they are dealing with conventional real estate or complex financial instruments.