When an appraiser is asked to "readdress" a report by a new client, what is the appraiser's USPAP obligation?

Study for the National Uniform Standards of Professional Appraisal Practice Test. Use multiple choice questions and flashcards to prepare effectively. Each question provides explanations and hints. Be ready for your exam success!

When an appraiser is asked to "readdress" a report for a new client, the obligation under the Uniform Standards of Professional Appraisal Practice (USPAP) is to maintain confidentiality and uphold the integrity of the appraisal process. Readdressing a report implies that the appraisal is being presented to a new entity without the original client's consent, which can violate the confidentiality rules outlined in USPAP.

Since an appraisal report is considered the intellectual property of the appraiser, the original client must give authorization for it to be readdressed. The code of ethics and standards within USPAP emphasize protecting the privacy of the client and the confidential nature of their information. Therefore, readdressing the report without the original client's permission is not permitted, reinforcing the need for appraisers to adhere strictly to ethical guidelines. This underscores the importance of client consent in the appraisal process and the responsibilities an appraiser has to their original client.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy