Does USPAP apply to aircraft appraisals?

USPAP contains standards for personal property appraisal, so an aircraft appraisal can be performed under USPAP, but compliance is not legally required. Federal law mandates USPAP compliance only for state-licensed and state-certified appraisers working on federally related real estate transactions. There is no such federal requirement for personal property or business valuation professionals, though many professional organizations adopt USPAP voluntarily and courts increasingly recognize it as a professional standard.