The Appraisal Foundation’s Appraisal Standards Board (ASB), which develops, interprets and amends the Uniform Standards of Professional Appraisal Practice (USPAP), has issued a series of Q&As to help illustrate the application of USPAP in specific situations. This information is designed to inform appraisers, enforcement officials and users of appraisal services in hopes of helping to alleviate appraisal issues.
The USPAP Q&A is developed by questions raised by appraisers, enforcement officials, users of appraisal services and the public to illustrate the applicability of USPAP in specific situations and to offer advice from the ASB for the resolution of appraisal problems.
The latest Q&A regards “Subject Property Data and Confidentiality” as it pertains to the ETHICS RULE:
Q. I recently heard that all information I collect regarding a subject property is part of my assignment results, and therefore, subject to the requirements in the Confidentiality section of the ETHICS RULE. Is this true?
A. No. The Confidentiality section of the ETHICS RULE prohibits disclosure of confidential information and assignment results (both, as defined in USPAP) to parties other than the client or parties authorized by the client (there are specified exceptions to this). Factual information regarding the subject property is not confidential information unless it is identified as confidential by the client and not available from any other source. Assignment results include only the appraiser’s opinions and conclusions developed specific to an assignment. Therefore, data (but not opinions) regarding the characteristics of the subject property may be disclosed to other parties unless it has been identified by the client as confidential and is not available from another source.
Note: The USPAP Q&A may not represent the only possible solution to the issues discussed, nor may the advice provided be applied equally to seemingly similar situations. USPAP Q&A does not establish new standards or interpret existing standards. USPAP Q&A is not part of USPAP and is approved by the ASB without public exposure and comment.