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Is there a law about appraising?

Updated: 8/16/2019
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13y ago

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Appraisals are of several forms, such as company worth, loans, insurance and tax assessment. The regulations vary by type and by locality, and each state or community will have its own laws.

However, professional groups generally endorse the standards of the Uniform Standards of Professional Appraisal Practice (USPAP) which apply to the valuation of corporate and personal property, including real and intangible assets. This was adopted by the Appraisal Foundation, a cooperative effort among appraisal organizations, in 1987.

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