USPAP 2016-17 Summary of Changes

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Dave Towne

2016 - 2017 USPAP changes

2016 – 17 USPAP Updates & Revisions

Appraisers,

On Feb 6, the Appraisal Standards Board finalized the upcoming changes to the next issue of USPAP. See the PDF for the actual document.

The highlights are:

Revisions adopted for 2016 – 17 USPAP

The following changes were adopted by the Board in a public meeting on February 6, 2015, and will be incorporated in the 2016 – 17 edition of USPAP and associated guidance material with an effective date of January 1, 2016:

  • Revisions to the RECORD KEEPING RULE
  • Revisions to STANDARD 3
  • Revisions to the Definition of Assignment Results and Confidential Information and to the Confidentiality section of the ETHICS RULE (Note: this change included language that appeared in the Third Exposure Draft, but not in the Fourth Exposure Draft.)
  • Revisions to Reporting Standards
  • Other USPAP Edits
  • Retirement of all STATEMENTS ON APPRAISAL STANDARDS <<< that’s interesting – but should make USPAP easier to understand!
  • ADVISORY OPINION 33: Discounted Cash Flow Analysis
  • ADVISORY OPINION 34: Retrospective and Prospective Value Opinions
  • ADVISORY OPINION 7: Marketing Time Opinions
  • ADVISORY OPINION 35: Reasonable Exposure Time in Real and Personal Property Opinions of Value
  • ADVISORY OPINION 36: Identification and Disclosure of Client, Intended Use, and Intended Users
Dave Towne

Dave Towne

AGA, MNAA, Accredited Green Appraiser - Licensed in WA State since 2003. Dave Towne on e-AppraisersDirectory.com

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USPAP 2016-17 Summary of Changes

by Dave Towne time to read: 1 min
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