4 CCR 725-2, ch. 11 - STANDARDS OF PROFESSIONAL APPRAISAL PRACTICE
11.1.
The current edition of the USPAP as defined in section
12-10-602(10),
C.R.S. is adopted by the Board pursuant to section
12-10-613(1)(g),
C.R.S.
11.2. A Licensee using the
services of an unlicensed assistant under the provisions of section
12-10-621, C.R.S. as amended, or
the services of another Licensee in the preparation of appraisals or other work
products will, consistent with the USPAP, supervise each such assistant or
Licensee in an active, diligent and personal manner. When any portion of the
work involves significant real property appraisal assistance, the Licensee must
summarize and state the research, analysis and reporting contributions of each
such assistant or other Licensee within each such report or other work product
in a manner specified in the USPAP Standard 2.
11.3. A Licensee performing any consulting
services pursuant to section
12-10-602(5)
C.R.S., must not represent any analysis, opinion, or conclusions as an
independent appraisal assignment. In compliance with sections
12-10-613(1)(g)
and 12-10-616(1)(b), (c) and
(d), C.R.S, a Licensee compensated by a
Contingent Fee as defined in Rule 1.49., must disclose in a clear and
conspicuous manner in any oral report, or the letter of transmittal, summary of
salient facts and conclusions, statement of limiting conditions, and
certifications of any written report the following:
A. A Contingent Fee is being paid;
B. The Licensee is performing a consulting
service and not an independent appraisal; and
C. The attainment of a stipulated result is
not subject to compliance with the USPAP.
11.4. Licensed and certified appraisers
performing Evaluations pursuant to section
12-10-606(7)(a),
C.R.S., must include the following disclaimer on the first page of the report:
"This is an evaluation not subject to compliance with Standards 1 and 2
of the Uniform Standards of Professional Appraisal Practice." Licensed
and certified appraisers performing an Evaluation must comply with the Ethics,
Record-keeping, Competency, and Scope-of-Work Rules of the USPAP.
Notes
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