Start Date
8-12-2017 8:45 AM
End Date
8-12-2017 9:30 AM
Description
Our purpose is not to offer an exhaustive or definitive survey of constitutional, statutory, or case law authority across the United States. Nor is it to inundate the reader with innumerable citations. Rather, we present several areas of inquiry where we suggest it is essential that the appraiser both understand and apply local law to properly complete the appraisal assignment. Only then—after bringing to bear all that is otherwise required by the exacting professional standards of the certifying organizations and USPAP—does the final report become an informative, relevant, and persuasive expert opinion of value that the-trier-of fact may not only find credible but also place reasonable reliance upon its process, analysis, and conclusions. To that end, we observe that, at some point, various jurisdictions, primarily through tribunal and court decisions, have found themselves cast in the following categories. Over time, positions may have changed; nuances developed; and decisions distinguished, abandoned or modified by statute. Consequently, this outline may not reflect the precise current status of the law in every instance. Instead, this presentation suggests that there are several critical areas (we have selected ten) in which the appraiser should not only conduct independent research but also consult with local tax counsel to ascertain the controlling legal principles in order to competently complete a defensible report.
Recommended Citation
Jaconetty, Thomas A. Esq. and Esq., Wayne Tenenbaum, "A little bit of law never hurt an appraiser" (2017). IAAO Annual Legal Seminar. 8.
https://researchexchange.iaao.org/legal/legal17/sessions/8
A little bit of law never hurt an appraiser
Our purpose is not to offer an exhaustive or definitive survey of constitutional, statutory, or case law authority across the United States. Nor is it to inundate the reader with innumerable citations. Rather, we present several areas of inquiry where we suggest it is essential that the appraiser both understand and apply local law to properly complete the appraisal assignment. Only then—after bringing to bear all that is otherwise required by the exacting professional standards of the certifying organizations and USPAP—does the final report become an informative, relevant, and persuasive expert opinion of value that the-trier-of fact may not only find credible but also place reasonable reliance upon its process, analysis, and conclusions. To that end, we observe that, at some point, various jurisdictions, primarily through tribunal and court decisions, have found themselves cast in the following categories. Over time, positions may have changed; nuances developed; and decisions distinguished, abandoned or modified by statute. Consequently, this outline may not reflect the precise current status of the law in every instance. Instead, this presentation suggests that there are several critical areas (we have selected ten) in which the appraiser should not only conduct independent research but also consult with local tax counsel to ascertain the controlling legal principles in order to competently complete a defensible report.