What is USPAP

What is the USPAP?


Uniform Standards of Professional Appraisal Practice


USPAP, which you might hear pronounced like "YOOS-pap," is the Uniform Standards of Professional Appraisal Practice.  It is the handbook of Federal guidelines for appraisers, and it is law.  USPAP is published and maintained by the Appraisal Standards Board (ASB) of The Appraisal Foundation.  The Appraisal Foundation is authorized by Congress as the Source of Appraisal Standards and Appraiser Qualifications.  It is also a not-for-profit, non-governmental entity.


USPAP is revised periodically, usually annually, and almost never radically.  It includes sections covering rules, such as an Ethics Rule, a Departure Rule, and a Competency Rule.  It includes 10 Standards, each covering (in detail) different functions an appraiser might perform.  It includes 10 Statements, some retired, which are used to clarify or supplement the Standards.  It also includes Advisory Opinions which describe real-life problems and how they would be governed under the Rules and Standards of USPAP.


Every appraiser that is qualified to write USPAP Reports is required to know and follow USPAP, usually by operation of state law, and must complete Continuing Education periodically to relearn the basics and become familiar with new Advisory Opinions and annual changes to USPAP.


"USPAP" Appraisal Reports

USPAP type Reports are required for all turbine powered aircraft.  The IRS also requires an USPAP type Reports for all donated aircraft for individuals that seek a tax relief.  The IRS form 8283, "Noncash Charitable Contributions", must be submitted to the IRS and signed by the appraiser.  Click here to view a sample USPAP Report.