{"id":12361,"date":"2011-10-19T11:01:09","date_gmt":"2011-10-19T15:01:09","guid":{"rendered":"https:\/\/www.certitrek.com\/nebb\/the-2012-2013-edition-of-uspap-released-by-the-appraisal-foundation\/"},"modified":"2022-12-29T01:59:16","modified_gmt":"2022-12-29T06:59:16","slug":"the-2012-2013-edition-of-uspap-released-by-the-appraisal-foundation","status":"publish","type":"post","link":"https:\/\/www.certitrek.com\/nebbinstitute\/blog\/the-2012-2013-edition-of-uspap-released-by-the-appraisal-foundation\/","title":{"rendered":"The 2012-2013 Edition of USPAP Released by The Appraisal Foundation"},"content":{"rendered":"<div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 fusion-flex-container nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start\" style=\"max-width:1144px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-0 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:1.92%;--awb-margin-bottom-large:0px;--awb-spacing-left-large:1.92%;--awb-width-medium:100%;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-text fusion-text-1\"><p>The Appraisal Foundation recently announced the release of the 2012-2013 edition of the <em>Uniform Standards of Professional Appraisal Practice <\/em>(<a href=\"https:\/\/nebbinstitute.wordpress.com\/2010\/05\/20\/what-is-uspap\/\">USPAP<\/a>), valid from January 1, 2012, until December 31, 2013.\u00a0USPAP establishes the generally accepted standards of the appraisal practice in North America, and has evolved over the years to grow with the appraisal industry. NEBB Institute members are required to adhere to the standards set forth by USPAP. Compliance is also required for appraisers involved in federally related transactions, and 35 states in the U.S. require USPAP compliance in all transactions, federally related or not.<\/p>\n<p>The changes made in the USPAP 2012-2013 edition include:<\/p>\n<ul>\n<li>Revisions to definitions of \u201cClient,\u201d \u201cExtraordinary Assumptions,\u201d and \u201cHypothetical Condition,\u201d as well as a new definition of \u201cExposure Time\u201d<\/li>\n<li>Creation of a new record keeping rule and related edits to the Conduct Section of the Ethics Rule<\/li>\n<li>Revisions to Advisory Opinion 21, <em>USPAP Compliance<\/em><\/li>\n<li>Revisions to Standards 7 &amp; 8:\u00a0Personal Property Appraisal, Development &amp; Reporting<\/li>\n<\/ul>\n<p>It\u2019s a good idea for <a href=\"https:\/\/nebbinstitute.wordpress.com\/2010\/05\/12\/getting-a-cmea-designation\/\">CMEAs<\/a> to become familiar with the changes before they go into effect in January. For more information about the new edition, visit the Appraisal Foundation website: <a href=\"http:\/\/www.appraisalfoundation.org\/\" target=\"_blank\" rel=\"noopener\">http:\/\/www.appraisalfoundation.org\/<\/a>.<\/p>\n<p><em>The <a href=\"https:\/\/www.certitrek.com\/nebb\/\" target=\"_blank\" rel=\"noopener\">NEBB Institute<\/a> endorses and strives to observe the highest standards of professional ethics to preserve the public trust inherent in the professional appraisal practice. The Institute provides initial and monthly comprehensive education, ongoing support, and a dynamic international network, and certifies professionals in the art of machinery\/equipment appraisal and brokerage.<\/em><\/p>\n<p>By: <a href=\"http:\/\/www.nebbinstitute.org\/\" target=\"_blank\" rel=\"noopener\">NEBB Institute<\/a><\/p>\n<\/div><\/div><\/div><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Appraisal Foundation recently announced the release of the 2012-2013 edition of the Uniform Standards of Professional Appraisal Practice (USPAP), valid from January 1, 2012, until December 31, 2013.\u00a0USPAP establishes the generally accepted standards of the appraisal practice in North America, and has evolved over the years to grow with the appraisal industry. NEBB Institute [&#8230;]<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-12361","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.13 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The New Edition of USPAP Released by The Appraisal Foundation<\/title>\n<meta name=\"description\" content=\"NEBB Institute members are required to adhere to the standards set forth by USPAP. Compliance is also required for appraisers involved in federally related transactions\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.certitrek.com\/nebbinstitute\/blog\/the-2012-2013-edition-of-uspap-released-by-the-appraisal-foundation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The New Edition of USPAP Released by The Appraisal Foundation\" \/>\n<meta property=\"og:description\" content=\"NEBB Institute members are required to adhere to the standards set forth by USPAP. Compliance is also required for appraisers involved in federally related transactions\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.certitrek.com\/nebbinstitute\/blog\/the-2012-2013-edition-of-uspap-released-by-the-appraisal-foundation\/\" \/>\n<meta property=\"og:site_name\" content=\"NEBB\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/NextLevelPurchasing\/\" \/>\n<meta property=\"article:published_time\" content=\"2011-10-19T15:01:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-29T06:59:16+00:00\" \/>\n<meta name=\"author\" content=\"Galo Matagay\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@nextlevelpurch\" \/>\n<meta name=\"twitter:site\" content=\"@nextlevelpurch\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Galo Matagay\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.certitrek.com\/nebbinstitute\/blog\/the-2012-2013-edition-of-uspap-released-by-the-appraisal-foundation\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.certitrek.com\/nebbinstitute\/blog\/the-2012-2013-edition-of-uspap-released-by-the-appraisal-foundation\/\"},\"author\":{\"name\":\"Galo Matagay\",\"@id\":\"https:\/\/www.certitrek.com\/nebbinstitute\/#\/schema\/person\/72d094fab77892483dfa6e061cb27eaa\"},\"headline\":\"The 2012-2013 Edition of USPAP Released by The Appraisal Foundation\",\"datePublished\":\"2011-10-19T15:01:09+00:00\",\"dateModified\":\"2022-12-29T06:59:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.certitrek.com\/nebbinstitute\/blog\/the-2012-2013-edition-of-uspap-released-by-the-appraisal-foundation\/\"},\"wordCount\":425,\"publisher\":{\"@id\":\"https:\/\/www.certitrek.com\/nebbinstitute\/#organization\"},\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.certitrek.com\/nebbinstitute\/blog\/the-2012-2013-edition-of-uspap-released-by-the-appraisal-foundation\/\",\"url\":\"https:\/\/www.certitrek.com\/nebbinstitute\/blog\/the-2012-2013-edition-of-uspap-released-by-the-appraisal-foundation\/\",\"name\":\"The New Edition of USPAP Released by The Appraisal Foundation\",\"isPartOf\":{\"@id\":\"https:\/\/www.certitrek.com\/nebbinstitute\/#website\"},\"datePublished\":\"2011-10-19T15:01:09+00:00\",\"dateModified\":\"2022-12-29T06:59:16+00:00\",\"description\":\"NEBB Institute members are required to adhere to the standards set forth by USPAP. 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