Uniform Standards of Professional Appraisal Practice (USPAP)

The Uniform Standards of Professional Appraisal Practice (USPAP) are professional standards for the development and reporting of appraisals for real property, personal property and business valuation in the United States. USPAP, as it is commonly known, was first developed in the 1980s by a joint committee representing the major U.S. and Canadian appraisal organizations. As a result of the savings and loan crisis, The Appraisal Foundation (TAF) was formed by these same groups along with support and input from major industry and educational groups, and TAF took over administration of USPAP.

Recent Changes to USPAP
Several substantative changes have been made to the 2012-13 edition of USPAP including:
 * Revisions to DEFINITIONS of "Client," "Extraordinary Assumptions," and "Hypothetical Condition," as well as a new definition of "Exposure Time";
 * Creation of a new RECORD KEEPING RULE and related edits to the Conduct Section of the ETHICS RULE;
 * Revisions to Advisory Opinion 21, USPAP Compliance; and,
 * Revisions to STANDARDS 7 & 8: PERSONAL PROPERTY APPRAISAL, DEVELOPMENT & REPORTING.

Appraisal Foundation video on 2012 USPAP changes

Online Version of USPAP
USPAP Online