Uniform Standards of Appraisal Practice definition

Uniform Standards of Appraisal Practice means the guidance as published and amended by the Appraisal Standards Board of the Appraisals Foundation for quality control standards applicable for real property, personal property, intangibles and business valuation appraisal analysis and reports in the United States and its territories.
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Examples of Uniform Standards of Appraisal Practice in a sentence

  • Each appraisal assignment challenges the appraiser’s ability to put analytical skills into practice, exercise sound judgment, and communicate effectively, to estimate the market value of the property in accordance with the Uniform Standards of Appraisal Practice (USPAP) and VA appraisal guidelines as outlined in the VA Pamphlet 26-7, Chapter 10 Appraisal Process (NEW).

  • This appraisal report was performed in accordance with the Uniform Standards of Appraisal Practice as set forth by the Appraisal Foundation.

  • The interim final rule provides that a creditor or settlement service provider involved in the transaction who has a reasonable basis to believe that an appraiser has not complied with ethical or professional requirements for appraisers under applicable federal or state law, or the Uniform Standards of Appraisal Practice (USPAP) must report the failure to comply to the appropriate state licensing agency.

  • RSA 21-J:14- b, 1, (c)}This report shall follow closely the most recent Edition of the Uniform Standards of Appraisal Practice (USPAP) Standard Number 6.

  • The letter concluded: "The [appraisal] report, as reviewed, was not considered to comply with the requirements of the Uniform Standards of Appraisal Practice [sic].

  • RSA 21-J:14-b, 1, (c)}This report shall follow closely the most recent Edition of the Uniform Standards of Appraisal Practice (USPAP) Standard Number 6.

  • The appraiser shall use the methodology established in the Uniform Standards of Appraisal Practice.

  • RD understands that the Uniform Standards of Appraisal Practice do not permit the prospective value of a conversion to market-rate operations to be taken into account in determining market value if there are 10 years or more remaining in the RUP.

  • The Appraisal Standards Board (ASB) conducts a periodic review of all Standards in the Uniform Standards of Appraisal Practice (USPAP).

  • The Taxpayer offered a Restricted Appraisal Report for the Subject Property that proports to comply with the Uniform Standards of Appraisal Practice for a Restricted Appraisal Report.

Related to Uniform Standards of Appraisal Practice

  • Good Industry Practice means standards, practices, methods and procedures conforming to the Law and the degree of skill and care, diligence, prudence and foresight which would reasonably and ordinarily be expected from a skilled and experienced person or body engaged in a similar type of undertaking under the same or similar circumstances.

  • Good Laboratory Practices or “GLP” means the then-current Good Laboratory Practice (or similar standards) for the performance of laboratory activities for pharmaceutical products as are required by applicable Regulatory Authorities or Applicable Law. In the United States, Good Laboratory Practices are established through FDA regulations (including 21 C.F.R. Part 58), FDA guidance, FDA current review and inspection standards and current industry standards.

  • Scope of practice means defined parameters of various duties or services that may be provided by an individual with specific credentials. Whether regulated by rule, statute, or court decision, it tends to represent the limits of services an individual may perform.