What are the ethical rules outlined in USPAP?

USPAP's Ethics Rule requires appraisers to act with independence, impartiality, and objectivity, to avoid false or misleading statements and fraudulent reports, to refuse assignments with predetermined conclusions, and to protect the confidential appraiser-client relationship. The 2024 edition included a comprehensive revision of the Ethics Rule clarifying appraisers' obligations under fair housing laws. USPAP lists five Rules in total: Ethics, Competency, Scope of Work, Record Keeping, and Jurisdictional Exception.

USPAP's ethical standards sit in its Ethics Rule, one of five Rules alongside Competency, Record Keeping, Scope of Work, and Jurisdictional Exception. Rhode Island regulation 230-RICR-30-20-1 requires all appraisers to comply with USPAP at all times, not only on federally related assignments. The standards prohibit advocacy, bias, and discrimination, and violations can bring a board reprimand, mandatory additional USPAP training, or loss of license.

USPAP, the Uniform Standards of Professional Appraisal Practice, sets minimum ethical and performance standards to promote and maintain public trust in appraisal practice. Its rules require appraisers to act independently and impartially, avoid false or misleading statements, not accept assignments with predetermined conclusions, and protect appraiser-client confidentiality. In Texas, TALCB enforces these standards.