An appraiser receives a request to perform a retrospective appraisal as of a date five years in the past for estate tax purposes. Under USPAP, can the appraiser perform this assignment?
Correct Answer
A) Yes, because USPAP allows retrospective appraisals with an effective date in the past, as long as the appraiser uses data available as of that past date
USPAP permits retrospective appraisals in which the effective date is in the past. The appraiser must use market data and conditions that existed as of the retrospective date, not current data.
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