65.         When USPAP is Contrary to Public Policy or Law

 

Question:

Can a jurisdictional exception take away from the requirements of USPAP?

 

Response:

Yes. The JURISDICTIONAL EXCEPTION RULE provides for the situation in which parts of USPAP may be contrary to public policy or law in certain jurisdictions. It states:

 

 

 

If any part of these Standards is contrary to the law or public policy of any jurisdiction, only that part shall be void and of no force or effect in that jurisdiction.

 

 

As stated in the Comment to the JURISDICTIONAL EXCEPTION RULE:

 

 

 

It is misleading for an appraiser to disregard a part or parts of USPAP as void and of no force and effect in a particular assignment without identifying in the appraiser’s report the part or parts disregarded and the legal authority justifying this action.

 

 

The Comment to the JURISDICTIONAL EXCEPTION RULE includes language that helps appraisers recognize “law,” “public policy,” and “jurisdiction.”

 

 

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USPAP 2008–2009 Edition
©The Appraisal Foundation