What is USPAP?
USPAP is the Uniform Standards of Professional Appraisal Practice, the code of ethics written by the Appraisal Foundation, which Congress authorized as the source of appraisal standards and appraiser qualifications. By relying on USPAP, an appraiser can produce appraisals — analyses, opinions, and advice — in a manner meaningful to you and not misleading in the marketplace. The current USPAP is available online.
USPAP stands for Uniform Standard of Professional Appraisal Practice. The United States Congress authorized the formation of USPAP in 1987 following the Savings and Loan Crisis. USPAP establishes the accepted standards for all types of appraisals including Aircraft Appraisals. Download a brochure on USPAP by clicking here.
The Uniform Standards of Professional Appraisal Practice (USPAP) are the generally accepted standards for professional appraisal practice in the United States. USPAP contains standards for all types of appraisal services including real property, personal property, business and mass appraisal. The purpose of USPAP is to promote and maintain a high level of public trust in appraisal practice by establishing requirements for appraisers. USPAP was originally written in 1986-1987 by an appraisal profession Ad Hoc Committee and was donated to the Foundation in 1987. The Financial Institutions Reform Recovery and Enforcement Act (FIRREA) of 1989 cites USPAP as the standard to be enforced by state real estate appraiser licensing and certification boards. USPAP compliance is also required by professional appraisal associations, client groups and by dozens of federal, state and local agencies. USPAP is updated on a periodic basis. USPAP is growing in acceptance throughout the world. Many profess
